Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.23

Tamarack Valley Energy Ltd (TSE:TVE) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$5.23.

Several equities analysts have recently weighed in on the company. National Bankshares lifted their price objective on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Acumen Capital increased their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. 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, November 1st. Royal Bank of Canada raised 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. Finally, BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th.

Tamarack Valley Energy Trading Down 3.0 %

Shares of TSE TVE opened at C$4.47 on Thursday. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.62. 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$2.43 billion, a price-to-earnings ratio of 19.43 and a beta of 2.49. The company’s fifty day moving average is C$4.15 and its 200-day moving average is C$3.91.

Tamarack Valley Energy Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a dividend of $0.0127 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.41%. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

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.