Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada increased the target price for Tamarack Valley Energy from C$6.00 to C$7.00, suggesting a potential upside of 28.44% from the stock's previous close.
• Despite the positive outlook from Royal Bank of Canada, Desjardins downgraded Tamarack Valley Energy from a "moderate buy" to a "hold" rating, reflecting mixed analyst sentiments.
• Recent insider trading activity includes Director Rene Amirault purchasing 85,500 shares at an average price of C$4.12, indicating confidence in the company's future performance.

Tamarack Valley Energy (TSE:TVE - Free Report) had its price target lifted by Royal Bank Of Canada from C$6.00 to C$7.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on TVE. Raymond James Financial upped their target price on Tamarack Valley Energy from C$5.00 to C$5.50 in a research report on Thursday, June 26th. CIBC reduced their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Finally, Desjardins downgraded Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$6.33.

Tamarack Valley Energy Stock Down 2.4%

Shares of TSE TVE traded down C$0.13 on Thursday, hitting C$5.31. The company had a trading volume of 1,679,655 shares, compared to its average volume of 2,103,787. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$5.53. The business has a 50 day moving average of C$4.89 and a two-hundred day moving average of C$4.41. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a market capitalization of C$2.80 billion, a P/E ratio of 13.60 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.0127 per share. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, July 31st. Tamarack Valley Energy's dividend payout ratio (DPR) is currently 38.41%.

Insider Activity

In related news, Director Rene Amirault purchased 85,500 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of C$4.12 per share, with a total value of C$352,260.00. Company insiders own 1.32% of the company's stock.

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.