Tamarack Valley Energy (TSE:TVE) Given New C$6.00 Price Target at Acumen Capital

Tamarack Valley Energy (TSE:TVE) had its price target upped by Acumen Capital from C$5.50 to C$6.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on TVE. National Bankshares decreased their price objective on Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. Royal Bank of Canada lifted their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday. CIBC raised their target price on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. Finally, Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$5.23.

Tamarack Valley Energy Stock Performance

Tamarack Valley Energy stock opened at C$4.42 on Friday. The stock has a 50-day simple moving average of C$3.98 and a 200 day simple moving average of C$3.85. The stock has a market capitalization of C$2.41 billion, a price-to-earnings ratio of 19.22 and a beta of 2.49. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.49.

Tamarack Valley Energy Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.15 annualized dividend and a yield of 3.39%. Tamarack Valley Energy’s payout ratio is currently 65.22%.

Insiders Place Their Bets

In related news, Senior Officer Christine Ezinga acquired 13,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of C$3.99 per share, for a total transaction of C$51,870.00. 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.