National Bankshares Cuts Tamarack Valley Energy (TSE:TVE) Price Target to C$6.75

Tamarack Valley Energy (TSE:TVE) had its price target reduced by National Bankshares from C$7.00 to C$6.75 in a report published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on TVE. Acumen Capital lifted their target price on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada upped their target price 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. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. Finally, BMO Capital Markets increased their price target on Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$5.48.

Tamarack Valley Energy Stock Performance

Shares of TVE opened at C$4.38 on Thursday. Tamarack Valley Energy has a 52 week low of C$2.90 and a 52 week 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 stock has a market cap of C$2.38 billion, a P/E ratio of 19.04 and a beta of 2.49. The business’s 50 day moving average price is C$4.29 and its 200-day moving average price is C$4.00.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Friday, November 29th. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction 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. 1.32% of the stock is currently owned by corporate insiders.

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.