Tamarack Valley Energy (TSE:TVE) Upgraded by Raymond James Financial to Outperform Rating

Raymond James Financial upgraded shares of Tamarack Valley Energy (TSE:TVE) from a market perform rating to an outperform rating in a research note released on Friday morning,BayStreet.CA reports. They currently have C$15.00 price target on the stock, up from their previous price target of C$12.00.

TVE has been the topic of several other reports. Desjardins upped their price objective on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Acumen Capital raised their target price on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada boosted their price target on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Canaccord Genuity Group upped their price target on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, ATB Cormark Capital Markets increased their price objective on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Buy” and a consensus target price of C$12.73.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock opened at C$12.76 on Friday. The firm has a fifty day simple moving average of C$11.90 and a 200-day simple moving average of C$9.77. The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 37.62. Tamarack Valley Energy has a 1-year low of C$4.35 and a 1-year high of C$13.97. The stock has a market capitalization of C$6.10 billion, a price-to-earnings ratio of -70.89 and a beta of 0.46.

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 during the quarter. On average, sell-side analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

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

Tamarack Valley Energy Company Profile

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.