Tamarack Valley Energy (TSE:TVE) Upgraded at Desjardins

Desjardins upgraded shares of Tamarack Valley Energy (TSE:TVE) to a moderate buy rating in a research report report published on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on TVE. Roth Capital set a C$15.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce upped their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research note on Friday, May 29th. Royal Bank Of Canada raised their price objective on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Raymond James Financial upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Finally, Canaccord Genuity Group raised Tamarack Valley Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tamarack Valley Energy presently has an average rating of “Buy” and an average price target of C$13.28.

Tamarack Valley Energy Stock Up 2.9%

Shares of TSE:TVE opened at C$13.21 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89. The stock has a market cap of C$6.32 billion, a price-to-earnings ratio of -73.39 and a beta of 0.33. The firm’s 50 day moving average price is C$12.83 and its 200 day moving average price is C$11.06. Tamarack Valley Energy has a fifty-two week low of C$4.98 and a fifty-two week high of C$14.03.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The business had revenue of C$375.55 million for the quarter. As a group, equities research analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio is currently -86.62%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Shannon Joseph bought 27,521 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the transaction, the director owned 66,376 shares in the company, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the transaction, the director owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. 1.32% 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.