Tamarack Valley Energy (TSE:TVE) Trading Down 2.2% - What's Next?

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)'s share price was down 2.2% during mid-day trading on Tuesday . The stock traded as low as C$5.23 and last traded at C$5.25. Approximately 1,171,448 shares were traded 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.

Analysts Set New Price Targets

TVE has been the subject of several research reports. CIBC upped their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Desjardins upped their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, ATB Capital upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Trading Down 2.2%

The stock's fifty day simple moving average is C$5.09 and its 200-day simple moving average is C$4.48. The firm has a market cap of C$2.77 billion, a PE ratio of 13.44 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 Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were paid a $0.0127 dividend. The ex-dividend date was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. Tamarack Valley Energy's dividend payout ratio is presently 38.41%.

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.

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