Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.50

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$5.48.

Several brokerages have recently weighed in on TVE. CIBC lifted 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. Acumen Capital lifted 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 note on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. National Bankshares decreased their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th.

Tamarack Valley Energy Stock Up 3.5 %

TVE stock opened at C$4.38 on Monday. Tamarack Valley Energy has a twelve month low of C$2.90 and a twelve month high of C$4.70. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The company has a market cap of C$2.38 billion, a PE ratio of 19.04 and a beta of 2.49. The business’s 50-day simple moving average is C$4.29 and its 200 day simple moving average is C$4.00.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.48%. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date was Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 65.22%.

Insiders Place Their Bets

In related news, Director Marnie Smith sold 9,668 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total value of C$42,732.56. 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.