Tamarack Valley Energy Ltd (TSE:TVE) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analysts unanimously rate Tamarack Valley Energy “Buy”: All 10 analysts covering the stock recommend buying it, with an average 12-month price target of C$13.70. Recent targets range as high as C$17.00.
• The stock opened at C$14.04, up 3.5%, near its 12-month high of C$14.05 and above its 50-day and 200-day moving averages.
• Tamarack Valley increased its quarterly dividend to C$0.05 per share from C$0.04, implying an annualized yield of about 1.4%; however, its payout ratio is elevated at 225.24%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has been given a consensus recommendation of "Buy" by the ten brokerages that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is C$13.70.

A number of equities analysts have weighed in on TVE shares. Raymond James Financial boosted their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce lifted their price target on shares of 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. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the company a "buy" rating in a report on Friday, July 17th. Finally, Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the company a "buy" rating in a research report on Tuesday, August 18th.

Insiders Place Their Bets

In other news, Director Shannon Joseph purchased 27,521 shares of the company's 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 purchase, the director directly owned 66,376 shares in the company, valued at approximately C$833,682.56. This represents a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the sale, the director directly owned 424,442 shares of the company's stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their position. 1.32% of the stock is currently owned by insiders.

Tamarack Valley Energy Stock Up 3.5%

Tamarack Valley Energy stock opened at C$14.04 on Wednesday. The firm has a market cap of C$6.67 billion, a price-to-earnings ratio of 200.57 and a beta of 0.32. The stock has a fifty day simple moving average of C$13.09 and a two-hundred day simple moving average of C$12.14. Tamarack Valley Energy has a 12 month low of C$5.18 and a 12 month high of C$14.05. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The firm had revenue of C$493.95 million during the quarter. Equities analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be given a $0.05 dividend. This is a boost from Tamarack Valley Energy's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.4%. Tamarack Valley Energy's payout ratio is presently 225.24%.

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.

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