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

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$5.91.

Several equities research analysts have recently issued reports on TVE shares. Royal Bank Of Canada raised their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company an "outperform" rating in a research note on Monday. Desjardins downgraded shares of Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. CIBC cut their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Finally, Raymond James Financial raised their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday, June 26th.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$4.85 on Friday. The business's fifty day simple moving average is C$4.42 and its 200-day simple moving average is C$4.35. The company has a market cap of C$2.56 billion, a PE ratio of 12.42 and a beta of 2.49. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$5.12.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were given a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Wednesday, April 30th. Tamarack Valley Energy's dividend payout ratio is presently 38.41%.

Insider Activity at Tamarack Valley Energy

In related news, Senior Officer Kevin James Johnston acquired 15,000 shares of Tamarack Valley Energy stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of C$3.29 per share, for a total transaction of C$49,350.00. Also, Director Rene Amirault acquired 85,500 shares of Tamarack Valley Energy stock in a transaction on Monday, May 12th. The shares were bought at an average price of C$4.12 per share, for a total transaction of C$352,260.00. Insiders have purchased 184,100 shares of company stock valued at $703,774 in the last ninety days. 1.32% of the stock is currently owned by company 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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