Scotiabank Reiterates C$17.00 Price Target for Tamarack Valley Energy (TSE:TVE)

by · The Cerbat Gem

Scotiabank set a C$17.00 price target on Tamarack Valley Energy (TSE:TVE – Free Report) in a report published on Wednesday, MarketBeat reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Desjardins lifted their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th. Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Finally, Raymond James Financial boosted their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$14.19.

Get Our Latest Analysis on Tamarack Valley Energy

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$13.38 on Wednesday. The stock’s 50-day simple moving average is C$13.36 and its 200 day simple moving average is C$12.67. The firm has a market capitalization of C$6.34 billion, a PE ratio of 191.14 and a beta of 0.26. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. Tamarack Valley Energy has a twelve month low of C$5.93 and a twelve month high of C$14.42.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. On average, analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s payout ratio is presently 225.24%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, insider Kevin James Johnston purchased 7,500 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was purchased at an average price of C$13.44 per share, with a total value of C$100,800.00. Following the completion of the purchase, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock. Also, Director Caralyn Patricia Bennett purchased 36,568 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the purchase, the director directly owned 169,192 shares of the company’s stock, valued at approximately C$2,243,485.92. The trade was a 27.57% increase in their position. Over the last 90 days, insiders acquired 44,458 shares of company stock valued at $590,957. Corporate insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Company Profile

(Get Free Report)

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.

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