Canaccord Genuity Group Raises Tamarack Valley Energy (TSE:TVE) Price Target to C$4.75

Tamarack Valley Energy (TSE:TVE) had its price target lifted by Canaccord Genuity Group from C$4.25 to C$4.75 in a research note published on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently commented on TVE. CIBC cut their price objective on shares of Tamarack Valley Energy from C$5.25 to C$4.50 and set an outperform rating on the stock in a research report on Tuesday, January 16th. BMO Capital Markets set a C$4.00 price target on shares of Tamarack Valley Energy and gave the company a market perform rating in a report on Thursday, March 21st. Desjardins raised their price target on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a buy rating in a report on Friday, March 22nd. Raymond James dropped their price target on shares of Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating on the stock in a report on Friday, January 19th. Finally, National Bankshares raised their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$4.85.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$3.77 on Wednesday. Tamarack Valley Energy has a one year low of C$2.76 and a one year high of C$4.34. The company’s 50-day moving average is C$3.63 and its 200 day moving average is C$3.51. The company has a market capitalization of C$2.05 billion, a price-to-earnings ratio of 22.18 and a beta of 2.59. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Wednesday, February 28th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.04. Tamarack Valley Energy had a net margin of 6.70% and a return on equity of 4.34%. The company had revenue of C$418.86 million for the quarter. Sell-side analysts expect that Tamarack Valley Energy will post 0.2799189 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.0125 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 88.24%.

Insider Transactions at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of the stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of C$3.55 per share, for a total transaction of C$30,789.15. In other Tamarack Valley Energy news, Senior Officer Scott Shimek acquired 8,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were purchased at an average price of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of the stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price of C$3.55 per share, for a total transaction of C$30,789.15. Insiders have acquired 47,718 shares of company stock worth $178,867 in the last quarter. Company insiders own 1.15% of the company’s stock.

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.