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

Key Points

• Tamarack Valley Energy Ltd. has a consensus rating of "Moderate Buy" from eight research firms, with one hold and seven buy recommendations.
• The average 1-year price target for Tamarack Valley Energy among brokerages is C$6.33, with recent upgrades from several firms, including Royal Bank of Canada raising it to C$7.00.
• The company recently declared a monthly dividend of $0.0127, resulting in an annualized yield of 2.8%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$6.33.

Several research firms recently issued reports on TVE. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. CIBC upped their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the stock an "outperform" rating in a report on Thursday, July 31st. ATB Capital increased their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a report on Thursday, July 31st. Raymond James Financial increased their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Desjardins increased their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a report on Thursday, July 31st.

Tamarack Valley Energy Price Performance

TSE TVE opened at C$5.49 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a fifty day simple moving average of C$5.12 and a 200 day simple moving average of C$4.50. The company has a market cap of C$2.90 billion, a P/E ratio of 14.06 and a beta of 2.49. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$5.55.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were issued a $0.0127 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a c) dividend on an annualized basis and a yield of 2.8%. Tamarack Valley Energy's dividend payout ratio is 38.41%.

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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