Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$5.72

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is C$5.72.

Several equities research analysts recently issued reports on TVE shares. BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Desjardins raised shares of Tamarack Valley Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, May 12th. Raymond James raised shares of Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from C$4.50 to C$5.00 in a research note on Thursday, May 8th. Finally, CIBC dropped their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research note on Thursday, April 10th.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Rene Amirault purchased 83,600 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average cost of C$3.61 per share, with a total value of C$302,163.84. Also, Director Robert Spitzer purchased 31,985 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of C$4.19 per share, with a total value of C$134,017.15. Insiders purchased a total of 308,884 shares of company stock valued at $1,252,849 in the last ninety days. Corporate insiders own 1.32% of the company's stock.

Tamarack Valley Energy Trading Down 0.5%

Shares of TVE stock traded down C$0.02 during mid-day trading on Thursday, reaching C$4.36. The company's stock had a trading volume of 1,793,503 shares, compared to its average volume of 2,127,921. The company's 50 day simple moving average is C$3.96 and its 200-day simple moving average is C$4.30. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$5.05. 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$2.30 billion, a PE ratio of 11.16 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy's dividend payout ratio is currently 38.41%.

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.