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

Key Points

• Analysts remain bullish: All nine covering firms rate Tamarack Valley Energy “Buy,” with an average 12-month price target of C$13.38. Several analysts recently raised their targets to between C$15.00 and C$16.00.
• Insider activity was mixed: Director Rene Amirault bought 78,500 shares, increasing his position by 20.87%, while Director Robert Spitzer sold 10,000 shares. Insiders collectively own 1.32% of the company.
• Tamarack Valley reported quarterly revenue of C$493.95 million and earnings of C$0.43 per share, and pays an annualized dividend of C$0.16 per share for a 1.3% yield. However, its dividend payout ratio was high at 225.24%.

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) have been assigned an average recommendation of "Buy" from the nine ratings firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$13.38.

TVE has been the subject of a number of analyst reports. Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and raised their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce lifted their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an "outperformer" rating in a report on Friday, May 29th. Raymond James Financial increased their price objective on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research note on Friday, July 17th.

Insiders Place Their Bets

In other news, Director Robert Spitzer sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the director owned 424,442 shares in the company, valued at approximately C$5,526,234.84. The trade was a 2.30% decrease in their position. Also, Director Rene Amirault acquired 78,500 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the transaction, the director directly owned 454,602 shares of the company's stock, valued at C$5,950,740.18. The trade was a 20.87% increase in their position. Company insiders own 1.32% of the company's stock.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE opened at C$12.56 on Friday. The business's 50-day simple moving average is C$12.93 and its 200-day simple moving average is C$11.60. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. Tamarack Valley Energy has a 52 week low of C$5.18 and a 52 week high of C$14.03. The firm has a market cap of C$5.97 billion, a price-to-earnings ratio of 179.43 and a beta of 0.32.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The firm had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.3%. Tamarack Valley Energy's dividend payout ratio is 225.24%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source