Stifel Nicolaus Boosts Tamarack Valley Energy (TSE:TVE) Price Target to C$5.50

Tamarack Valley Energy (TSE:TVE - Free Report) had its target price increased by Stifel Nicolaus from C$5.25 to C$5.50 in a research note published on Thursday morning, BayStreet.CA reports.

Several other brokerages have also issued reports on TVE. National Bankshares increased their target price on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Desjardins raised their price objective on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a buy rating in a research report on Friday, March 22nd. CIBC upped their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.25 and gave the stock an outperform rating in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of Tamarack Valley Energy from C$4.00 to C$4.25 and gave the company an outperform rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets set a C$4.00 price objective on shares of Tamarack Valley Energy and gave the stock a market perform rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$4.95.

Tamarack Valley Energy Trading Up 1.9 %

TVE stock traded up C$0.07 during midday trading on Thursday, hitting C$3.82. The company had a trading volume of 2,339,077 shares, compared to its average volume of 2,217,947. The stock has a market cap of C$2.08 billion, a price-to-earnings ratio of 22.47 and a beta of 2.59. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34. The company has a current ratio of 0.52, a quick ratio of 0.80 and a debt-to-equity ratio of 43.39. The stock's 50 day moving average price is C$3.79 and its 200 day moving average price is C$3.51.

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

Tamarack Valley Energy Cuts Dividend

The business also recently declared 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. This represents a $0.15 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, April 29th. Tamarack Valley Energy's payout ratio is 88.24%.

Insider Activity

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of C$3.55 per share, for a total transaction of C$30,789.15. In related news, Senior Officer Christine Ezinga purchased 21,150 shares of Tamarack Valley Energy stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of C$3.74 per share, for a total transaction of C$79,012.17. Also, Senior Officer Brian Leslie Schmidt bought 8,673 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of C$3.55 per share, for a total transaction of C$30,789.15. Insiders have purchased a total of 47,718 shares of company stock valued at $178,867 in the last ninety days. Corporate insiders own 1.15% 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.