Tamarack Valley Energy Ltd (TSE:TVE – Get Free Report) has received a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$15.08.
A number of analysts have recently commented on the company. Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research note on Wednesday, September 30th. Canaccord Genuity Group lifted their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday. ATB Cormark Capital Markets upped their price objective on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Desjardins raised their price objective 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, September 9th.
Check Out Our Latest Stock Report on TVE
Insiders Place Their Bets
In other news, Director Caralyn Patricia Bennett purchased 36,568 shares of the stock in a transaction that occurred on 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 acquisition, the director owned 169,192 shares of the company’s stock, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their position. Also, insider Kevin James Johnston purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the transaction, the insider owned 104,491 shares of the company’s stock, valued at C$1,404,359.04. This trade represents a 7.73% increase in their position. Insiders have purchased 44,458 shares of company stock worth $590,957 over the last three months. 1.32% of the stock is currently owned by insiders.
Tamarack Valley Energy Stock Up 2.8%
TSE:TVE opened at C$15.06 on Thursday. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The company’s fifty day moving average price is C$13.69 and its 200-day moving average price is C$12.99. Tamarack Valley Energy has a 1-year low of C$6.06 and a 1-year high of C$15.15. The firm has a market capitalization of C$7.13 billion, a P/E ratio of 215.14 and a beta of 0.41.
Tamarack Valley Energy (TSE:TVE – Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. As a group, equities research analysts anticipate that Tamarack Valley Energy will post 0.14 EPS for the current year.
Tamarack Valley Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 225.24%.
Tamarack Valley Energy Company Profile
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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