Tamarack Valley Energy Ltd (TSE:TVE) Receives C$6.33 Consensus Price Target from Analysts

Key Points

• Tamarack Valley Energy Ltd has been rated as a "Moderate Buy" by eight analysts, with an average 12-month target price of C$6.33.
• The company recently announced a dividend of $0.0128 per share, to be paid on October 15th to shareholders of record as of September 30th.
• In a recent analysis, multiple firms raised their price targets for Tamarack Valley Energy, with Royal Bank of Canada setting a new target of C$7.00.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$6.58.

Several research firms have weighed in on TVE. Desjardins increased their price target on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a "hold" rating in a report on Friday. ATB Capital raised 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 report on Thursday, July 31st. National Bankshares raised their target price on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock an "outperform" rating in a report on Friday. CIBC raised their target price on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Royal Bank Of Canada raised their target price 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.

Tamarack Valley Energy Stock Performance

Tamarack Valley Energy stock traded down C$0.13 during trading hours on Wednesday, hitting C$5.89. The company had a trading volume of 8,472,867 shares, compared to its average volume of 2,064,341. The firm has a market cap of C$2.93 billion, a PE ratio of 12.27 and a beta of 1.12. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$6.18. The firm has a 50-day moving average of C$5.38 and a 200 day moving average of C$4.66.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.0128 dividend. Tamarack Valley Energy's dividend payout ratio (DPR) is 31.67%.

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.