Tamarack Valley Energy (TSE:TVE – Free Report) had its target price lifted by Raymond James Financial from C$16.00 to C$17.00 in a research note released on Wednesday morning,BayStreet reports. They currently have an outperform rating on the stock.
Several other equities analysts also recently weighed in on TVE. Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, May 19th. Desjardins upped their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce increased their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research report on Friday, May 29th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$13.93.
Check Out Our Latest Research Report on Tamarack Valley Energy
Tamarack Valley Energy Stock Down 2.0%
Tamarack Valley Energy (TSE:TVE – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The business had revenue of C$493.95 million during the quarter. On average, research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.
Tamarack Valley Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio is 225.24%.
Insider Activity at Tamarack Valley Energy
In other Tamarack Valley Energy news, Director Shannon Joseph purchased 27,521 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the purchase, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. 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.
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