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

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 an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$6.33.

A number of equities research analysts have commented on TVE shares. CIBC lifted their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. ATB Capital lifted their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial boosted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a research report on Thursday, July 31st.

Tamarack Valley Energy Stock Performance

TSE:TVE remained flat at C$5.42 during trading hours on Friday. 1,020,553 shares of the company's stock were exchanged, compared to its average volume of 2,029,141. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$5.55. The stock has a market cap of C$2.86 billion, a price-to-earnings ratio of 13.88 and a beta of 2.49. The company's 50 day simple moving average is C$5.16 and its 200 day simple moving average is C$4.52.

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.0127 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. Tamarack Valley Energy's payout ratio is presently 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.