Tamarack Valley Energy (TSE:TVE) Given New C$5.25 Price Target at CIBC

Tamarack Valley Energy (TSE:TVE) had its price target increased by CIBC from C$4.50 to C$5.25 in a report released on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on TVE. Royal Bank of Canada boosted their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an outperform rating in a research note on Thursday, February 29th. Canaccord Genuity Group boosted their target price on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a buy rating in a research report on Wednesday, April 17th. BMO Capital Markets set a C$4.00 target price on Tamarack Valley Energy and gave the company a market perform rating in a research report on Thursday, March 21st. Raymond James dropped their target price on Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating for the company in a research report on Friday, January 19th. Finally, National Bankshares boosted their target price on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Tamarack Valley Energy currently has an average rating of Moderate Buy and a consensus price target of C$4.93.

Tamarack Valley Energy Trading Up 0.5 %

Shares of TSE TVE opened at C$3.79 on Monday. The business’s 50 day moving average is C$3.65 and its two-hundred day moving average is C$3.51. The company has a debt-to-equity ratio of 43.39, a current ratio of 0.52 and a quick ratio of 0.80. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34. The stock has a market capitalization of C$2.06 billion, a P/E ratio of 22.29 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The company had revenue of C$418.86 million for the quarter. As a group, research analysts expect that Tamarack Valley Energy will post 0.2799189 EPS for the current year.

Tamarack Valley Energy Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.0125 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.96%. Tamarack Valley Energy’s payout ratio is 88.24%.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of C$3.55 per share, for a total transaction of C$30,789.15. In related news, Senior Officer Brian Leslie Schmidt bought 8,673 shares of the stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of C$3.55 per share, for a total transaction of C$30,789.15. Also, Senior Officer Scott Shimek bought 8,500 shares of the stock in a transaction on Wednesday, April 3rd. The shares were bought at an average price of C$4.08 per share, with a total value of C$34,680.00. Over the last quarter, insiders bought 47,718 shares of company stock worth $178,867. Company insiders own 1.15% 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.