Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• Analysts at CIBC raised the price target for Tamarack Valley Energy from C$5.50 to C$6.25, indicating a potential upside of 14.68% from its previous close.
• Royal Bank of Canada also increased its target price for the stock to C$7.00, while overall consensus ratings show a "Moderate Buy" with an average target of C$6.33.
• Insider buying was noted as Director Rene Amirault purchased 85,500 shares at an average price of C$4.12 per share.

Tamarack Valley Energy (TSE:TVE - Free Report) had its price objective raised by CIBC from C$5.50 to C$6.25 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on TVE. Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a report on Thursday. Raymond James Financial upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a report on Thursday. ATB Capital upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a report on Thursday. Finally, Desjardins upped their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a "hold" rating in a report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Price Performance

Shares of TVE traded down C$0.13 on Thursday, hitting C$5.31. The company's stock had a trading volume of 1,679,655 shares, compared to its average volume of 2,103,787. The company has a market capitalization of C$2.80 billion, a PE ratio of 13.60 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 fifty-two week low of C$3.10 and a fifty-two week high of C$5.53. The company has a 50 day moving average price of C$4.89 and a 200 day moving average price of C$4.41.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.0127 per share. The ex-dividend date is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 2.9%. Tamarack Valley Energy's payout ratio is presently 38.41%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Rene Amirault bought 85,500 shares of the company's stock in a transaction on Monday, May 12th. The stock was bought at an average price of C$4.12 per share, for a total transaction of C$352,260.00. Insiders own 1.32% of the company's stock.

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.