Tamarack Valley Energy (TSE:TVE) Stock Price Down 2.2% - Should You Sell?

Key Points

• Tamarack Valley Energy Ltd shares experienced a decline of 2.2%, trading as low as C$5.23 on Tuesday with a volume drop of 43% compared to its average daily trading volume.
• Several analysts have increased their price targets for Tamarack Valley Energy, with the consensus price target now at C$6.33, reflected by a majority of analysts giving it a "Buy" rating.
• The company recently announced a monthly dividend of $0.0127, resulting in an annualized yield of 2.9% and a payout ratio of 38.41%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares were down 2.2% on Tuesday . The company traded as low as C$5.23 and last traded at C$5.25. Approximately 1,171,448 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 2,048,063 shares. The stock had previously closed at C$5.37.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TVE shares. Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. CIBC lifted their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday, July 31st. ATB Capital lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Desjardins lifted their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$6.33.

Tamarack Valley Energy Trading Up 1.9%

The company has a market cap of C$2.90 billion, a PE ratio of 14.06 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. The business has a 50-day simple moving average of C$5.12 and a 200-day simple moving average of C$4.50.

Tamarack Valley Energy Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were given a $0.0127 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a c) dividend on an annualized basis and a yield of 2.8%. Tamarack Valley Energy's payout ratio is presently 38.41%.

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.