Tamarack Valley Energy (TSE:TVE) Cut to Hold at Desjardins

Desjardins cut shares of Tamarack Valley Energy (TSE:TVE) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat Ratings reports. They currently have C$5.25 price objective on the stock, down from their previous price objective of C$6.00.

Several other research firms have also issued reports on TVE. CIBC upped their price target on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. National Bankshares lowered their price objective on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$5.81.

Tamarack Valley Energy Price Performance

TVE stock opened at C$4.33 on Wednesday. The company has a market capitalization of C$2.29 billion, a P/E ratio of 11.09 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a 52-week low of C$3.44 and a 52-week high of C$5.05. The business has a 50-day simple moving average of C$4.41 and a two-hundred day simple moving average of C$4.31.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were paid a $0.0127 dividend. This represents a $0.15 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s payout ratio is currently 38.41%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of C$4.55 per share, with a total value of C$385,539.70. 1.32% of the stock is owned by insiders.

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.