Tamarack Valley Energy (TSE:TVE) Upgraded by BMO Capital Markets to Outperform

BMO Capital Markets upgraded shares of Tamarack Valley Energy (TSE:TVE) from a market perform rating to an outperform rating in a research report sent to investors on Friday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on TVE. CIBC increased their target price on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th. Desjardins set a C$5.00 target price on Tamarack Valley Energy and gave the stock a buy rating in a report on Tuesday, June 25th. Finally, National Bankshares cut their price target on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a report on Friday, September 27th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of C$5.03.

Tamarack Valley Energy Stock Performance

TVE stock opened at C$4.19 on Friday. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.34. The stock has a market capitalization of C$2.28 billion, a price-to-earnings ratio of 18.22 and a beta of 2.50. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The stock’s fifty day moving average is C$3.93 and its two-hundred day moving average is C$3.82.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. The firm had revenue of C$382.98 million for the quarter.

Tamarack Valley Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.013 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 3.72%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 65.22%.

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga purchased 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of C$3.99 per share, with a total value of C$51,870.00. In the last 90 days, insiders bought 28,173 shares of company stock valued at $107,945. Company insiders own 1.32% of the company’s stock.

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.