Tamarack Valley Energy Ltd (TSE:TVE) Stock Has Average Price Target of C$13.93 According to Brokerages

Key Points

• Analysts remain bullish: All ten brokerages covering Tamarack Valley Energy rate the stock a “Buy,” with an average 12-month price target of C$13.93. Recent targets range as high as C$17.00.
• Insiders increased their holdings: Company insiders purchased 44,458 shares worth approximately C$590,957 over the past three months, including significant buys by an insider and a director.
• The dividend was increased: Tamarack Valley raised its quarterly dividend from C$0.04 to C$0.05 per share, implying an annualized dividend of C$0.20 and a 1.5% yield.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has been given an average rating of "Buy" by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$13.93.

A number of brokerages recently weighed in on TVE. Jefferies Financial Group set a C$17.00 price objective on Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Canaccord Genuity Group raised their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, September 9th. Finally, Desjardins boosted their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a "buy" rating in a research report on Wednesday, September 9th.

Insider Buying and Selling at Tamarack Valley Energy

In other news, insider Kevin James Johnston purchased 7,500 shares of the business's stock in a transaction on Thursday, September 17th. The shares were acquired at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the completion of the acquisition, the insider owned 104,491 shares in the company, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock. Also, Director Caralyn Patricia Bennett bought 36,568 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of C$13.26 per share, for a total transaction of C$484,891.68. Following the completion of the acquisition, the director owned 169,192 shares in the company, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Over the last three months, insiders have purchased 44,458 shares of company stock worth $590,957. 1.32% of the stock is owned by insiders.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$13.21 on Friday. Tamarack Valley Energy has a fifty-two week low of C$5.93 and a fifty-two week high of C$14.42. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The stock's fifty day moving average price is C$13.36 and its two-hundred day moving average price is C$12.58. The company has a market cap of C$6.26 billion, a PE ratio of 188.71 and a beta of 0.26.

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

Tamarack Valley Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Tamarack Valley Energy's previous quarterly dividend of $0.04. Tamarack Valley Energy's dividend payout ratio (DPR) is currently 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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