National Bankshares Lowers Tamarack Valley Energy (TSE:TVE) Price Target to C$6.75

Tamarack Valley Energy (TSE:TVE) had its price target cut by National Bankshares from C$7.00 to C$6.75 in a research note released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

TVE has been the topic of several other reports. Royal Bank of Canada boosted 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 note on Friday, November 1st. 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. BMO Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a research note on Friday, December 13th. Acumen Capital increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group lifted their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.48.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE opened at C$4.23 on Thursday. The firm has a fifty day simple moving average of C$4.28 and a two-hundred day simple moving average of C$4.00. Tamarack Valley Energy has a 52 week low of C$2.90 and a 52 week high of C$4.70. 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 capitalization of C$2.30 billion, a P/E ratio of 18.39 and a beta of 2.49.

Tamarack Valley Energy Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.0127 dividend. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Insider Activity

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. 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.