Tamarack Valley Energy (TSE:TVE) PT Raised to C$4.75 at Canaccord Genuity Group

Tamarack Valley Energy (TSE:TVE) had its price objective raised by Canaccord Genuity Group from C$4.25 to C$4.75 in a report published on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on TVE. Desjardins raised their price target on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a buy rating in a report on Friday, March 22nd. Raymond James reduced their price objective on Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating for the company in a research note on Friday, January 19th. Stifel Nicolaus raised their price objective on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a buy rating in a research note on Thursday, February 29th. BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the stock a market perform rating in a research note on Thursday, March 21st. Finally, ATB Capital reduced their price objective 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$4.85.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.80 on Wednesday. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52. The company has a market cap of C$2.07 billion, a PE ratio of 22.35 and a beta of 2.59. The business has a 50-day simple moving average of C$3.61 and a two-hundred day simple moving average of C$3.51. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Tamarack Valley Energy will post 0.2799189 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.0125 per share. This represents a $0.15 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio is currently 88.24%.

Insider Activity at Tamarack Valley Energy

In related news, Senior Officer Brian Leslie Schmidt purchased 9,395 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of C$3.66 per share, for a total transaction of C$34,385.70. In other Tamarack Valley Energy news, Senior Officer Scott Shimek acquired 8,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was acquired at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt acquired 9,395 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of C$3.66 per share, with a total value of C$34,385.70. Over the last ninety days, insiders purchased 47,718 shares of company stock worth $178,867. 1.15% of the stock is owned by corporate insiders.

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.