Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.00 at Royal Bank of Canada

Tamarack Valley Energy (TSE:TVE) had its price target upped by Royal Bank of Canada from C$5.00 to C$6.00 in a research note published on Friday morning, Price Targets.com reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Friday. CIBC boosted their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.50 and gave the company an outperform rating in a report on Thursday. National Bankshares upped their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.50 and gave the stock an outperform rating in a research note on Thursday, December 16th. Raymond James reissued a strong-buy rating and issued a C$5.75 target price on shares of Tamarack Valley Energy in a research report on Friday. Finally, Acumen Capital boosted their target price on Tamarack Valley Energy from C$5.00 to C$5.50 and gave the stock a buy rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of C$5.02.

TSE TVE opened at C$4.70 on Friday. Tamarack Valley Energy has a 52-week low of C$1.28 and a 52-week high of C$4.72. The company has a 50-day simple moving average of C$3.76 and a 200 day simple moving average of C$3.12. The company has a debt-to-equity ratio of 47.43, a quick ratio of 0.36 and a current ratio of 0.38. The company has a market capitalization of C$1.91 billion and a PE ratio of 6.38.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, October 27th. The company reported C$0.05 EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.03). The firm had revenue of C$211.53 million for the quarter. As a group, analysts forecast that Tamarack Valley Energy will post 0.47 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Tuesday, February 15th will be paid a $0.0083 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, January 28th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 13.57%.

In other news, Senior Officer Brian Leslie Schmidt sold 66,562 shares of the stock in a transaction dated Wednesday, January 5th. The stock was sold at an average price of C$4.08, for a total value of C$271,572.96. Following the transaction, the insider now owns 2,152,848 shares in the company, valued at approximately C$8,783,619.84. Also, Senior Officer Martin Malek acquired 55,647 shares of the company’s stock in a transaction dated Wednesday, December 22nd. The stock was acquired at an average price of C$3.59 per share, for a total transaction of C$199,772.73. Following the acquisition, the insider now owns 521,571 shares in the company, valued at approximately C$1,872,439.89. In the last three months, insiders have purchased 60,383 shares of company stock worth $217,618.

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.

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Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

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