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 raised by Royal Bank Of Canada from C$5.50 to C$6.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also commented on TVE. CIBC reduced their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Raymond James Financial lifted their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.50 in a research note on Thursday, June 26th. Finally, Desjardins cut shares of Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$5.91.

Tamarack Valley Energy Trading Down 0.8%

Tamarack Valley Energy stock traded down C$0.04 during trading on Monday, reaching C$4.85. 1,194,270 shares of the company were exchanged, compared to its average volume of 2,155,477. The stock's 50 day simple moving average is C$4.42 and its two-hundred day simple moving average is C$4.35. The company has a market capitalization of C$2.56 billion, a P/E ratio of 12.42 and a beta of 2.49. 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 52-week low of C$3.10 and a 52-week high of C$5.12.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a yield of 3.14%. The ex-dividend date was Wednesday, April 30th. Tamarack Valley Energy's dividend payout ratio (DPR) is presently 38.41%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Steven Buytels purchased 8,065 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of C$3.66 per share, for a total transaction of C$29,517.90. Also, Director Rene Amirault purchased 85,500 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of C$4.12 per share, with a total value of C$352,260.00. Insiders purchased a total of 192,165 shares of company stock worth $733,292 over the last three months. Insiders own 1.32% of the company's stock.

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.