Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$5.25

Tamarack Valley Energy (TSE:TVE) had its price objective hoisted by CIBC from C$4.50 to C$5.25 in a research note released on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on TVE. Desjardins raised their price objective on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a buy rating in a research note on Friday, March 22nd. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a buy rating in a research note on Wednesday, April 17th. BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the company a market perform rating in a research note on Thursday, March 21st. National Bankshares raised their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a research note on Wednesday, January 10th. Finally, ATB Capital decreased their price target on Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating for the company in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$4.93.

Tamarack Valley Energy Stock Performance

TSE TVE opened at C$3.92 on Monday. The stock has a market capitalization of C$2.13 billion, a PE ratio of 23.06 and a beta of 2.59. The business has a 50 day simple moving average of C$3.70 and a two-hundred day simple moving average of C$3.51. The company has a debt-to-equity ratio of 43.39, a current ratio of 0.52 and a quick ratio of 0.80. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The business had revenue of C$418.86 million during the quarter. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. On average, research analysts predict that Tamarack Valley Energy will post 0.2799189 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio is currently 88.24%.

Insiders Place Their Bets

In other news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of Tamarack Valley Energy stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. In other news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of Tamarack Valley Energy stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. Also, Senior Officer Christine Ezinga acquired 21,150 shares of Tamarack Valley Energy stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of C$3.74 per share, for a total transaction of C$79,012.17. Insiders have bought 47,718 shares of company stock worth $178,867 in the last ninety days. 1.15% of the stock is owned by company insiders.

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.