Royal Bank Of Canada Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE - Free Report) had its price objective hoisted by Royal Bank Of Canada from C$5.50 to C$6.00 in a report issued on Monday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently commented on TVE. Raymond James Financial upped their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday. Desjardins downgraded shares of Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, CIBC lowered their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$5.91.

Tamarack Valley Energy Stock Performance

TSE:TVE traded down C$0.05 on Monday, hitting C$4.83. The company's stock had a trading volume of 1,209,996 shares, compared to its average volume of 2,166,311. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$5.12. The firm has a market capitalization of C$2.55 billion, a P/E ratio of 12.37 and a beta of 2.49. The stock has a fifty day moving average of C$4.35 and a two-hundred day moving average of C$4.34. 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 Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a $0.0127 dividend. This represents a $0.15 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy's dividend payout ratio (DPR) is 38.41%.

Insider Buying and Selling 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 dated Wednesday, April 9th. The shares were bought at an average cost of C$3.29 per share, with a total value of C$49,350.00. Also, Director Robert Spitzer purchased 31,985 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of C$4.19 per share, with a total value of C$134,017.15. Over the last 90 days, insiders bought 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.