Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.00

Tamarack Valley Energy (TSE:TVE) had its price target hoisted by BMO Capital Markets from C$5.50 to C$6.00 in a report issued on Friday,BayStreet.CA reports.

Several other equities analysts have also weighed in on the company. Royal Bank of Canada lifted their price objective on 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. Canaccord Genuity Group lifted their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. National Bankshares upped their price target on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, CIBC increased their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.50.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$4.39 on Friday. 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 firm has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 19.09 and a beta of 2.49. Tamarack Valley Energy has a one year low of C$2.90 and a one year high of C$4.70. The company has a 50 day moving average price of C$4.28 and a 200 day moving average price of C$3.99.

Tamarack Valley Energy Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.0127 per share. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio is 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.