Tamarack Valley Energy (TSE:TVE) Downgraded to Hold Rating by Desjardins

Desjardins cut shares of Tamarack Valley Energy (TSE:TVE - Free Report) from a moderate buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on TVE. CIBC reduced their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Raymond James raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and increased their target price for the stock from C$4.50 to C$5.00 in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their target price on Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.72.

Tamarack Valley Energy Stock Performance

TSE:TVE traded up C$0.10 during trading hours on Tuesday, reaching C$4.56. 2,406,247 shares of the stock were exchanged, compared to its average volume of 2,102,519. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a 50 day simple moving average of C$3.99 and a 200-day simple moving average of C$4.30. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$5.05. The stock has a market capitalization of C$2.41 billion, a P/E ratio of 11.68 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were given a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy's payout ratio is 38.41%.

Insider Transactions at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Kevin James Johnston bought 15,000 shares of the stock in a transaction that occurred 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 bought 85,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of C$4.12 per share, for a total transaction of C$352,260.00. In the last ninety days, insiders have purchased 224,150 shares of company stock worth $867,309. 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.