Tamarack Valley Energy Ltd (TSE:TVE) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Eight analysts give Tamarack Valley Energy an average recommendation of "Moderate Buy" (six buys, two holds) with a 12‑month average price target of C$10.44; several firms recently raised targets, including RBC to C$12.00 and ATB Cormark to C$11.50.
• Shares opened at C$12.90 and are trading near their 52‑week high of C$13.22, with a market capitalization of C$6.25 billion and a 50‑day/200‑day moving average of C$10.94/C$8.87 indicating an uptrend.
• Q4 results showed C$0.10 EPS on C$304.6M revenue but a negative net margin (‑2.41%) and negative ROE (‑1.84%); the company pays a quarterly dividend of C$0.04 (C$0.16 annualized, yield 1.2%) with a reported payout ratio of ‑220.24%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$10.44.

TVE has been the subject of a number of research analyst reports. ATB Cormark Capital Markets upped their price target on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an "outperform" rating in a report on Thursday, February 26th. Canaccord Genuity Group increased their price objective on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a "hold" rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Desjardins increased their price objective on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a "buy" rating in a report on Thursday, February 26th. Finally, Acumen Capital increased their price objective on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a "buy" rating in a report on Thursday, February 26th.

Tamarack Valley Energy Stock Up 0.6%

Shares of Tamarack Valley Energy stock opened at C$12.90 on Thursday. Tamarack Valley Energy has a 52-week low of C$3.50 and a 52-week high of C$13.22. The company has a 50 day moving average of C$10.94 and a 200 day moving average of C$8.87. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 37.29. The company has a market capitalization of C$6.25 billion, a P/E ratio of -184.29 and a beta of 0.34.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a negative net margin of 2.41% and a negative return on equity of 1.84%. As a group, research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Tamarack Valley Energy's dividend payout ratio is -220.24%.

Tamarack Valley Energy Company Profile

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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