Raymond James Financial Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$6.50

Key Points

• Raymond James Financial has raised its price target for Tamarack Valley Energy from C$6.00 to C$6.50, indicating a potential upside of 19.27% from the current stock price.
• Analysts have varying ratings on Tamarack Valley Energy, with one analyst rating it as a hold and seven issuing buy ratings, leading to a consensus rating of "Moderate Buy".
• Company insiders, including Director Rene Amirault, are actively buying shares, with recent transactions indicating confidence in the company's performance.

Tamarack Valley Energy (TSE:TVE - Free Report) had its price objective lifted by Raymond James Financial from C$6.00 to C$6.50 in a research report report published on Thursday,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

TVE has been the subject of several other research reports. CIBC decreased their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. ATB Capital raised their target price on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank Of Canada raised their target price on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Desjardins cut Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tamarack Valley Energy currently has an average rating of "Moderate Buy" and an average target price of C$6.33.

Tamarack Valley Energy Stock Down 2.4%

Shares of Tamarack Valley Energy stock traded down C$0.13 during midday trading 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 firm has a market capitalization of C$2.80 billion, a P/E ratio of 13.60 and a beta of 2.49. The stock has a 50-day simple moving average of C$4.89 and a 200-day simple moving average of C$4.41. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a 1-year low of C$3.10 and a 1-year high of C$5.53.

Tamarack Valley Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Rene Amirault bought 85,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of C$4.12 per share, for a total transaction of C$352,260.00. 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.