Tamarack Valley Energy Ltd (TSE:TVE) Receives C$6.86 Average Price Target from Analysts

Tamarack Valley Energy Ltd (TSE:TVE – Get Rating) has received a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$6.86.

Several analysts have commented on TVE shares. Cormark dropped their target price on shares of Tamarack Valley Energy from C$6.50 to C$6.00 in a report on Thursday, December 8th. Stifel Nicolaus raised their price target on shares of Tamarack Valley Energy from C$6.25 to C$6.50 in a research note on Thursday, December 8th. BMO Capital Markets raised their price target on shares of Tamarack Valley Energy from C$5.00 to C$6.00 in a research note on Friday, October 28th. ATB Capital raised their price target on shares of Tamarack Valley Energy from C$8.00 to C$8.25 in a research note on Wednesday, September 28th. Finally, Royal Bank of Canada raised their price target on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$4.66 on Friday. The company has a debt-to-equity ratio of 16.75, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market capitalization of C$2.60 billion and a P/E ratio of 4.52. The company’s 50 day moving average price is C$4.61 and its two-hundred day moving average price is C$4.37. Tamarack Valley Energy has a 52 week low of C$3.28 and a 52 week high of C$6.48.

Tamarack Valley Energy (TSE:TVE – Get Rating) last announced its earnings results on Thursday, October 27th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.10. The company had revenue of C$329.30 million for the quarter. On average, analysts expect that Tamarack Valley Energy will post 1.1699999 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 15th will be paid a $0.0125 dividend. The ex-dividend date is Monday, January 30th. This represents a $0.15 annualized dividend and a dividend yield of 3.22%. Tamarack Valley Energy’s dividend payout ratio is presently 7.91%.

About Tamarack Valley Energy

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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.