Canaccord Genuity Group Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$4.75

Tamarack Valley Energy (TSE:TVE - Free Report) had its target price hoisted by Canaccord Genuity Group from C$4.25 to C$4.75 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a buy rating in a report on Thursday, February 29th. CIBC dropped their target price on Tamarack Valley Energy from C$5.25 to C$4.50 and set an outperform rating for the company in a report on Tuesday, January 16th. ATB Capital decreased their price target on Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating on the stock in a research report on Thursday, February 29th. BMO Capital Markets set a C$4.00 price target on Tamarack Valley Energy and gave the stock a market perform rating in a research report on Thursday, March 21st. Finally, Royal Bank of Canada increased their price target on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an outperform rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$4.85.

Tamarack Valley Energy Price Performance

Shares of TVE traded down C$0.05 during mid-day trading on Wednesday, reaching C$3.80. The company had a trading volume of 1,854,434 shares, compared to its average volume of 2,274,889. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.34. The company has a debt-to-equity ratio of 43.39, a current ratio of 0.52 and a quick ratio of 0.80. The company's 50-day moving average is C$3.61 and its 200-day moving average is C$3.51. The company has a market capitalization of C$2.07 billion, a P/E ratio of 22.35 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The business had revenue of C$418.86 million during the quarter. On average, equities analysts anticipate that Tamarack Valley Energy will post 0.2799189 EPS for the current year.

Tamarack Valley Energy Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.0125 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.95%. Tamarack Valley Energy's payout ratio is 88.24%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. In other news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. Also, Senior Officer Scott Shimek acquired 8,500 shares of the firm's stock in a transaction on Wednesday, April 3rd. The stock was purchased at an average price of C$4.08 per share, for a total transaction of C$34,680.00. In the last ninety days, insiders have bought 47,718 shares of company stock worth $178,867. Insiders own 1.15% of the company's stock.

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.