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

Tamarack Valley Energy Ltd (TSE:TVE) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$5.03.

TVE has been the topic of a number of recent research reports. National Bankshares decreased their price objective on Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. CIBC lifted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Monday, July 15th. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. Finally, Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th.

Tamarack Valley Energy Price Performance

Shares of TVE stock opened at C$4.00 on Friday. Tamarack Valley Energy has a one year low of C$2.76 and a one year high of C$4.34. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. The stock’s fifty day simple moving average is C$3.97 and its 200 day simple moving average is C$3.84. The firm has a market cap of C$2.18 billion, a price-to-earnings ratio of 17.39 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million for the quarter. On average, analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.15 annualized dividend and a dividend yield of 3.75%. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Insider Transactions at Tamarack Valley Energy

In related news, Senior Officer Christine Ezinga acquired 13,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of C$3.99 per share, for a total transaction of C$51,870.00. Insiders have bought 28,173 shares of company stock worth $107,945 in the last ninety days. Insiders own 1.32% 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.