Acumen Capital Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its target price lifted by Acumen Capital from C$5.50 to C$6.00 in a report issued on Friday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

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

Tamarack Valley Energy Trading Up 2.7 %

Shares of Tamarack Valley Energy stock traded up C$0.11 during trading on Friday, hitting C$4.26. The company’s stock had a trading volume of 6,590,600 shares, compared to its average volume of 2,409,551. The stock has a market cap of C$2.32 billion, a price-to-earnings ratio of 18.52 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.35. The stock has a 50-day moving average price of C$3.97 and a two-hundred day moving average price of C$3.84.

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

Tamarack Valley Energy Cuts Dividend

The firm also recently declared 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 dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, October 31st. Tamarack Valley Energy’s payout ratio is 65.22%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga bought 13,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of C$3.99 per share, for a total transaction of C$51,870.00. Over the last quarter, insiders have acquired 28,173 shares of company stock valued at $107,945. 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.