Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Rating of "Buy" from Analysts

Key Points

• Tamarack Valley Energy has an average analyst rating of "Buy", with all nine covering analysts recommending the stock. The average 12-month price target is C$12.72.
• Several brokers recently raised their targets and/or upgraded the stock, including Roth Capital, CIBC, RBC, Canaccord Genuity, and Raymond James, with multiple targets now set at C$15.00 or higher.
• The stock was up 2.5% and opened at C$13.10, near its 52-week high of C$14.03. The company also paid a quarterly dividend of C$0.04 per share, equal to a 1.2% annualized yield.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has earned an average rating of "Buy" from the nine analysts that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$12.72.

A number of equities research analysts recently weighed in on TVE shares. Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the company a "buy" rating in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce lifted their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an "outperformer" rating in a research note on Friday, May 29th. Royal Bank Of Canada upped their target price 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. Canaccord Genuity Group upgraded Tamarack Valley Energy from a "hold" rating to a "buy" rating and increased their price target for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Finally, Raymond James Financial raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and raised their price target for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th.

Tamarack Valley Energy Stock Up 2.5%

Shares of Tamarack Valley Energy stock opened at C$13.10 on Tuesday. The business has a 50-day moving average price of C$12.77 and a 200 day moving average price of C$10.94. Tamarack Valley Energy has a fifty-two week low of C$4.85 and a fifty-two week high of C$14.03. The firm has a market cap of C$6.26 billion, a P/E ratio of -72.78 and a beta of 0.33. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The company had revenue of C$375.55 million for the quarter. On average, sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 15th. Tamarack Valley Energy's dividend payout ratio is presently -86.62%.

Insiders Place Their Bets

In other news, Director Robert Spitzer sold 10,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the transaction, the director owned 424,442 shares of the company's stock, valued at approximately C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. Also, Director Shannon Joseph purchased 27,521 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the acquisition, the director owned 66,376 shares of the company's stock, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their position. 1.32% of the stock is owned by corporate 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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