Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Rating of “Moderate Buy” from Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$5.23.

Several research analysts recently weighed in on TVE shares. Royal Bank of Canada boosted their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. CIBC lifted their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Friday, November 1st. National Bankshares upped their target price on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th.

Insider Transactions at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga acquired 13,000 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of C$3.99 per share, with a total value of C$51,870.00. Company insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Stock Up 1.4 %

TSE TVE opened at C$4.43 on Thursday. The stock’s 50 day simple moving average is C$4.09 and its 200 day simple moving average is C$3.89. Tamarack Valley Energy has a one year low of C$2.76 and a one year high of C$4.58. The firm has a market cap of C$2.41 billion, a PE ratio of 19.26 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Tamarack Valley Energy Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a $0.0127 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.15 annualized dividend and a yield of 3.44%. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

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.