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

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$5.78.

A number of brokerages recently commented on TVE. Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. National Bankshares dropped their price target on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets raised their price target on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Acumen Capital raised their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, CIBC raised their price objective on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th.

Insider Activity

In other news, Director Marnie Smith sold 9,668 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. Corporate insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$4.27 on Friday. The firm has a market cap of C$2.25 billion, a PE ratio of 10.93 and a beta of 2.49. Tamarack Valley Energy has a fifty-two week low of C$3.33 and a fifty-two week high of C$5.05. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The business has a 50 day moving average price of C$4.61 and a 200-day moving average price of C$4.30.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0127 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.15 annualized dividend and a dividend yield of 3.57%. Tamarack Valley Energy’s payout ratio is presently 38.41%.

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.