Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$12.72

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$13.28.

A number of analysts recently weighed in on TVE shares. Desjardins set a C$16.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. 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 increased their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada raised their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, April 13th.

Tamarack Valley Energy Trading Up 2.9%

Shares of TVE stock opened at C$13.21 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89. Tamarack Valley Energy has a fifty-two week low of C$4.98 and a fifty-two week high of C$14.03. The firm’s 50 day moving average price is C$12.83 and its two-hundred day moving average price is C$11.06. 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.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data 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 company had revenue of C$375.55 million during the quarter. On average, analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.16 annualized dividend and a yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -86.62%.

Insider Buying and Selling at Tamarack Valley Energy

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

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.