Tamarack Valley Energy (TSE:TVE) Trading Down 1.1% - Time to Sell?

Key Points

• Tamarack Valley Energy's stock has decreased by 1.1% to C$5.17 following a trading day with a volume decline of 56% from its average, suggesting a decrease in investor activity.
• Wall Street analysts maintain a moderate buy rating with an average target price of C$5.91, although recent forecasts showed some analysts adjusting their price targets downwards.
• The company announced a monthly dividend of $0.0127 per share, resulting in an annualized yield of 2.95% and a payout ratio of 38.41%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) traded down 1.1% on Friday . The stock traded as low as C$5.16 and last traded at C$5.17. 929,437 shares were traded during trading, a decline of 56% from the average session volume of 2,098,296 shares. The stock had previously closed at C$5.23.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Desjardins downgraded Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. CIBC dropped their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Finally, Raymond James Financial boosted their target price on Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday, June 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$5.91.

Tamarack Valley Energy Stock Performance

The business has a 50 day moving average of C$4.79 and a 200 day moving average of C$4.40. The company has a market capitalization of C$2.73 billion, a P/E ratio of 13.24 and a beta of 2.49. 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 Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, July 31st. Tamarack Valley Energy's payout ratio is presently 38.41%.

Insider Buying and Selling

In other news, Director Rene Amirault purchased 85,500 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of C$4.12 per share, with a total value 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.

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