Tamarack Valley Energy Ltd (TSE:TVE) Given Consensus Rating of “Buy” by Brokerages

Tamarack Valley Energy Ltd (TSE:TVEGet Rating) has received a consensus recommendation of “Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$6.41.

TVE has been the subject of several research reports. BMO Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$6.00 in a research note on Friday, March 4th. Raymond James set a C$7.25 target price on shares of Tamarack Valley Energy and gave the company a “strong-buy” rating in a research report on Wednesday, May 4th. Royal Bank of Canada boosted their target price on shares of Tamarack Valley Energy from C$7.00 to C$7.50 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a C$6.50 target price on shares of Tamarack Valley Energy in a research report on Tuesday, February 1st. Finally, CIBC upped their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.50 and gave the stock an “outperform” rating in a research report on Friday, April 22nd.

In other Tamarack Valley Energy news, Director Ian Robert Currie acquired 8,775 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average price of C$5.05 per share, with a total value of C$44,313.75. Following the purchase, the director now owns 681,351 shares in the company, valued at C$3,440,822.55. Also, Senior Officer Brian Leslie Schmidt acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of C$5.00 per share, with a total value of C$250,000.00. Following the purchase, the insider now owns 2,206,683 shares in the company, valued at approximately C$11,033,415. Insiders have bought 91,460 shares of company stock valued at $471,306 in the last three months.

TSE TVE opened at C$4.56 on Friday. The firm’s fifty day simple moving average is C$5.03 and its two-hundred day simple moving average is C$4.49. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt-to-equity ratio of 38.73. Tamarack Valley Energy has a 12-month low of C$2.05 and a 12-month high of C$6.09. The firm has a market capitalization of C$1.97 billion and a P/E ratio of 4.22.

Tamarack Valley Energy (TSE:TVEGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported C$0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.17 by C($0.11). The business had revenue of C$298.90 million for the quarter. As a group, sell-side analysts predict that Tamarack Valley Energy will post 0.57 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a dividend of $0.008 per share. The ex-dividend date was Thursday, April 28th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.11%. Tamarack Valley Energy’s dividend payout ratio is currently 2.31%.

About Tamarack Valley Energy (Get Rating)

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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