Tamarack Valley Energy Ltd (TVE.TO) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts remain bullish: All 11 firms covering Tamarack Valley Energy rate the stock a “Buy,” with an average 12-month price target of C$14.60; several recent targets range from C$16.00 to C$17.00.
• The stock opened at C$14.75 and is near its 52-week high of C$15.15, while the company reported C$493.95 million in quarterly revenue and C$0.43 in EPS.
• Tamarack Valley increased its quarterly dividend to C$0.05, equal to a 1.4% annualized yield, and insiders purchased approximately C$591,000 of shares over the past three months.

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) have been given a consensus rating of "Buy" by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$14.60.

Several brokerages recently issued reports on TVE. Scotiabank set a C$17.00 price target on Tamarack Valley Energy and gave the company a "sector outperform" rating in a research note on Wednesday, September 30th. Jefferies Financial Group set a C$17.00 price objective on Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, August 18th. Royal Bank Of Canada increased their price objective on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an "outperform" rating in a report on Wednesday. Canaccord Genuity Group upped their price objective 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. Finally, Desjardins lifted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a "buy" rating in a research note on Wednesday, September 9th.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock opened at C$14.75 on Thursday. 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 has a market capitalization of C$6.99 billion, a price-to-earnings ratio of 210.71 and a beta of 0.41. The firm has a fifty day moving average of C$13.62 and a two-hundred day moving average of C$12.95. Tamarack Valley Energy has a 52 week low of C$6.06 and a 52 week high of C$15.15.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The firm had revenue of C$493.95 million for the quarter. As a group, equities research analysts predict that Tamarack Valley Energy will post 0.14 EPS for the current year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were issued a $0.05 dividend. This is an increase from Tamarack Valley Energy's previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 15th. Tamarack Valley Energy's dividend payout ratio is currently 225.24%.

Insider Transactions at Tamarack Valley Energy

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

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