Tamarack Valley Energy (TSE:TVE) Rating Lowered to Hold at Desjardins

Desjardins lowered shares of Tamarack Valley Energy (TSE:TVE - Free Report) from a moderate buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

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

Tamarack Valley Energy Stock Performance

TVE stock traded up C$0.10 during midday trading on Tuesday, hitting C$4.56. 2,406,247 shares of the company traded hands, compared to its average volume of 2,102,519. Tamarack Valley Energy has a twelve month low of C$3.10 and a twelve month high of C$5.05. 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 business has a 50 day simple moving average of C$3.99 and a 200-day simple moving average of C$4.30. The stock has a market capitalization of C$2.41 billion, a price-to-earnings ratio of 11.68 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 15th were given a $0.0127 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $0.15 annualized dividend and a dividend yield of 3.34%. Tamarack Valley Energy's dividend payout ratio is presently 38.41%.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Kevin James Johnston purchased 15,000 shares of Tamarack Valley Energy stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of C$3.29 per share, with a total value of C$49,350.00. Also, Director Robert Spitzer purchased 31,985 shares of Tamarack Valley Energy stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of C$4.19 per share, with a total value of C$134,017.15. In the last three months, insiders acquired 224,150 shares of company stock worth $867,309. 1.32% of the stock is owned by company insiders.

Tamarack Valley Energy Company Profile

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.