Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$16.00

by · The Markets Daily

Tamarack Valley Energy (TSE:TVE – Free Report) had its price objective raised by Canaccord Genuity Group from C$15.00 to C$16.00 in a research report released on Wednesday morning,BayStreet reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, August 18th. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Desjardins upped their price objective on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial raised their price objective on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce lifted their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$13.93.

Check Out Our Latest Stock Analysis on Tamarack Valley Energy

Tamarack Valley Energy Trading Down 2.0%

TVE stock opened at C$13.29 on Wednesday. The firm has a fifty day moving average price of C$13.26 and a 200 day moving average price of C$12.34. Tamarack Valley Energy has a fifty-two week low of C$5.68 and a fifty-two week high of C$14.11. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The firm has a market cap of C$6.31 billion, a PE ratio of 189.86 and a beta of 0.26.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million during the quarter. Sell-side analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 1.5%. Tamarack Valley Energy’s payout ratio is 225.24%.

Insider Activity

In other Tamarack Valley Energy news, Director Shannon Joseph bought 27,521 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was acquired at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the transaction, the director directly owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. This represents a 70.83% increase in their ownership of the stock. 1.32% of the stock is owned by company insiders.

About Tamarack Valley Energy

(Get Free Report)

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.

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