Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.23

Tamarack Valley Energy Ltd (TSE:TVE) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$5.23.

Several brokerages recently issued reports on TVE. Acumen Capital upped their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. National Bankshares boosted their price objective on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada boosted their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, CIBC boosted their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Tamarack Valley Energy Stock Down 1.1 %

Shares of TSE TVE opened at C$4.35 on Thursday. The firm’s 50-day simple moving average is C$4.18 and its 200 day simple moving average is C$3.92. The company has a market cap of C$2.37 billion, a price-to-earnings ratio of 18.91 and a beta of 2.49. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.62.

Tamarack Valley Energy Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be paid a $0.0127 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.50%. Tamarack Valley Energy’s dividend payout ratio is 65.22%.

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.