Acumen Capital Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target raised by Acumen Capital from C$5.50 to C$6.00 in a research report released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. CIBC raised their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada upped their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, National Bankshares cut their price objective on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$5.23.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE traded up C$0.11 during trading hours on Friday, reaching C$4.26. 6,590,600 shares of the stock were exchanged, compared to its average volume of 2,409,551. The firm has a market capitalization of C$2.32 billion, a price-to-earnings ratio of 18.52 and a beta of 2.49. The stock’s fifty day simple moving average is C$3.97 and its 200 day simple moving average is C$3.84. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.35.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million during the quarter. Sell-side analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, October 31st. Tamarack Valley Energy’s dividend payout ratio is 65.22%.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Senior Officer Christine Ezinga purchased 8,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of C$3.67 per share, for a total transaction of C$29,367.20. Insiders have purchased 28,173 shares of company stock worth $107,945 over the last quarter. Corporate insiders own 1.32% 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.