Tamarack Valley Energy Ltd (TSE:TVE) Stock Has Consensus Price Target of C$13.93 According to Analysts

Tamarack Valley Energy Ltd (TSE:TVE) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$13.93.

A number of equities analysts have recently issued reports on TVE shares. Raymond James Financial upped their price objective on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Desjardins upped their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Canaccord Genuity Group lifted their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th.

Tamarack Valley Energy Stock Performance

TSE TVE opened at C$13.04 on Friday. Tamarack Valley Energy has a 52-week low of C$5.93 and a 52-week high of C$14.42. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The company has a market capitalization of C$6.18 billion, a P/E ratio of 186.29 and a beta of 0.26. The company has a fifty day moving average of C$13.36 and a 200-day moving average of C$12.63.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The business had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. As a group, equities research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Tamarack Valley Energy’s payout ratio is presently 225.24%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Caralyn Patricia Bennett acquired 36,568 shares of Tamarack Valley Energy stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the completion of the purchase, the director owned 169,192 shares of the company’s stock, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston acquired 7,500 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was bought at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the acquisition, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. This trade represents a 7.73% increase in their position. Insiders have bought 44,458 shares of company stock worth $590,957 over the last ninety days. Insiders own 1.32% of the company’s stock.

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.