Desjardins Reiterates C$16.00 Price Target for Tamarack Valley Energy (TSE:TVE)

Desjardins set a C$16.00 price objective on Tamarack Valley Energy (TSE:TVE) in a research note issued to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on TVE. Roth Capital set a C$15.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce lifted their price objective on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Royal Bank Of Canada boosted their price objective on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$12.00 to C$15.00 in a report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$13.28.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE opened at C$13.21 on Friday. The business’s 50 day moving average price is C$12.83 and its 200-day moving average price is C$11.09. Tamarack Valley Energy has a 1 year low of C$4.98 and a 1 year high of C$14.03. The firm has a market capitalization of C$6.32 billion, a price-to-earnings ratio of -73.39 and a beta of 0.33. The company has a debt-to-equity ratio of 38.89, a current ratio of 0.69 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The company had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. On average, equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently -86.62%.

Insider Buying and Selling

In related news, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the sale, the director owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This represents a 2.30% decrease in their position. Also, Director Rene Amirault acquired 78,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the acquisition, the director owned 454,602 shares in the company, valued at C$5,950,740.18. The trade was a 20.87% increase in their position. 1.32% of the stock is currently owned by company insiders.

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.