Tamarack Valley Energy Ltd (TSE:TVE) Given Consensus Rating of “Moderate Buy” by Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$5.23.

Several equities research analysts have recently issued reports on the stock. National Bankshares raised their price objective on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Acumen Capital raised their target price 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. Finally, CIBC raised their target price on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Tamarack Valley Energy Trading Down 1.1 %

Shares of Tamarack Valley Energy stock opened at C$4.35 on Thursday. The company’s fifty day simple moving average is C$4.18 and its 200-day simple moving average is C$3.92. The company has a market cap of C$2.37 billion, a price-to-earnings ratio of 18.91 and a beta of 2.49. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.62.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.0127 per share. The ex-dividend date is Friday, November 29th. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.50%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 65.22%.

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.