Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$5.50 at BMO Capital Markets

Tamarack Valley Energy (TSE:TVE) had its target price lifted by BMO Capital Markets from C$4.50 to C$5.50 in a research note published on Thursday,BayStreet.CA reports.

TVE has been the subject of several other research reports. Acumen Capital increased their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC boosted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a report on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Tamarack Valley Energy has an average rating of “Moderate Buy” and an average target price of C$5.45.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$4.64 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The stock has a 50 day simple moving average of C$4.21 and a 200-day simple moving average of C$3.95. The company has a market cap of C$2.52 billion, a price-to-earnings ratio of 20.17 and a beta of 2.49. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.70.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a $0.0127 dividend. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date is Friday, November 29th. This represents a $0.15 annualized dividend and a yield of 3.28%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 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.