Tamarack Valley Energy (TSE:TVE) Given New C$6.75 Price Target at Desjardins

Key Points

• Desjardins has raised its price target for Tamarack Valley Energy from C$6.50 to C$6.75, indicating a potential upside of 14.80% from the stock's previous close.
• Multiple investment firms have also increased their price targets for Tamarack Valley Energy, with CIBC and Royal Bank of Canada raising theirs to C$7.00, both assigning an "outperform" rating.
• Tamarack Valley Energy's stock has recently decreased by 2.3%, closing at C$5.88, with a significant drop in trading volume compared to its average.

Tamarack Valley Energy (TSE:TVE - Free Report) had its price objective raised by Desjardins from C$6.50 to C$6.75 in a research report report published on Friday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

TVE has been the subject of a number of other research reports. ATB Capital upped their target price on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a report on Thursday, July 31st. CIBC upped their price target on Tamarack Valley Energy from C$6.25 to C$7.00 and gave the company an "outperform" rating in a research report on Friday. Royal Bank Of Canada upped their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial upped their price target on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$6.58.

Tamarack Valley Energy Price Performance

TVE traded up C$0.11 on Friday, reaching C$6.00. The stock had a trading volume of 2,115,996 shares, compared to its average volume of 2,064,624. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$6.18. The firm has a 50-day moving average of C$5.40 and a 200-day moving average of C$4.68. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$2.99 billion, a price-to-earnings ratio of 12.50 and a beta of 1.12.

Tamarack Valley Energy Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.0128 dividend. Tamarack Valley Energy's dividend payout ratio is presently 31.67%.

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.