Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Recommendation of “Buy” from Analysts

Tamarack Valley Energy Ltd (TSE:TVE) has earned an average rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$12.73.

Several brokerages recently weighed in on TVE. National Bank Financial boosted 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. 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 note on Monday, April 13th. Roth Mkm set a C$15.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Desjardins boosted their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce upped their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research report on Friday, May 29th.

Insider Activity at Tamarack Valley Energy

In other news, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the transaction, the director directly owned 66,376 shares in the company, valued at approximately C$833,682.56. The trade was a 70.83% increase in their ownership of the stock. Also, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the transaction, the director directly owned 424,442 shares in the company, valued at approximately C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. 1.32% of the stock is owned by insiders.

Tamarack Valley Energy Stock Down 2.6%

Shares of TVE stock opened at C$12.18 on Friday. Tamarack Valley Energy has a 1-year low of C$4.68 and a 1-year high of C$14.03. The stock’s fifty day moving average price is C$12.42 and its 200 day moving average price is C$10.37. 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 company has a market cap of C$5.82 billion, a price-to-earnings ratio of -67.67 and a beta of 0.28.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The firm had revenue of C$375.55 million for the quarter. On average, research analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio is presently -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.