Royal Bank Of Canada Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target hoisted by Royal Bank Of Canada from C$11.00 to C$12.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently commented on TVE. Desjardins boosted their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Canaccord Genuity Group boosted their target price on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. National Bank Financial boosted their target price on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Acumen Capital boosted their target price on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, ATB Cormark Capital Markets boosted their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$10.44.

Tamarack Valley Energy Stock Performance

TVE opened at C$11.40 on Monday. The business’s 50 day moving average is C$10.41 and its 200-day moving average is C$8.42. The stock has a market cap of C$5.52 billion, a PE ratio of -162.86 and a beta of 0.34. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 37.29. Tamarack Valley Energy has a twelve month low of C$3.50 and a twelve month high of C$12.00.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. The company had revenue of C$304.60 million for the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%. On average, analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.16 annualized dividend and a dividend yield of 1.4%. Tamarack Valley Energy’s dividend payout ratio is currently -220.24%.

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.