Tamarack Valley Energy (TSE:TVE) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Tamarack Valley Energy (TSE:TVE) from a hold rating to a buy rating in a research note published on Friday,BayStreet.CA reports. The brokerage currently has C$15.00 price objective on the stock, up from their prior price objective of C$12.00.

Other research analysts have also recently issued research reports about the stock. Roth Mkm set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. National Bank Financial upped their target price on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$12.00 to C$15.00 in a report on Friday. Finally, Desjardins lifted their price target on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Tamarack Valley Energy has an average rating of “Buy” and an average target price of C$12.73.

Tamarack Valley Energy Stock Down 1.1%

Shares of TSE TVE opened at C$12.76 on Friday. Tamarack Valley Energy has a one year low of C$4.35 and a one year high of C$13.97. The company has a debt-to-equity ratio of 37.62, a current ratio of 0.69 and a quick ratio of 0.80. The business’s fifty day moving average price is C$11.90 and its 200-day moving average price is C$9.77. The stock has a market capitalization of C$6.10 billion, a PE ratio of -70.89 and a beta of 0.46.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The company had revenue of C$375.55 million during the quarter. On average, equities research analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.04 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.16 annualized dividend and a yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -86.62%.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.