Tamarack Valley Energy (TSE:TVE) Given a C$16.00 Price Target by Desjardins Analysts

Desjardins set a C$16.00 price objective on Tamarack Valley Energy (TSE:TVE) in a research note published on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on TVE. Canadian Imperial Bank of Commerce lifted their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Royal Bank Of Canada lifted their price objective 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 Capital set a C$15.00 target price on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Buy” and a consensus price target of C$13.28.

Tamarack Valley Energy Trading Up 2.9%

Shares of TVE stock opened at C$13.21 on Friday. The firm has a fifty day moving average of C$12.83 and a 200-day moving average of C$11.06. The stock has a market cap of C$6.32 billion, a price-to-earnings ratio of -73.39 and a beta of 0.33. Tamarack Valley Energy has a 52-week low of C$4.98 and a 52-week high of C$14.03. The company has a debt-to-equity ratio of 38.89, a quick ratio of 0.80 and a current ratio of 0.69.

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

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio is presently -86.62%.

Insider Transactions at Tamarack Valley Energy

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

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.