Tamarack Valley Energy (TSE:TVE) Share price down 5.9% on analyst downgrade



Shares of Tamarack Valley Energy Ltd (TSE:TVE – Get Rating) fell 5.9% in trading on Tuesday after Stifel Nicolaus lowered his price target on the stock from C$7.50 to 7, $25 CAD. The stock traded as low as C$4.22 and last traded at C$4.30. 985,317 shares changed hands during trading, down 75% from the average session volume of 3,922,802 shares. The stock had previously closed at C$4.57.

Several other analysts have also recently commented on the stock. CIBC raised the target price of Tamarack Valley Energy shares from C$7.00 to C$7.50 and gave the stock an “outperform” rating in a report released Friday, April 22. National Bankshares raised its price target on Tamarack Valley Energy shares from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a Friday, April 22 report. Raymond James set a C$7.25 price target on Tamarack Valley Energy shares and gave the company a “Strong Buy” rating in a Wednesday, May 4, report. Royal Bank of Canada raised its price target on Tamarack Valley Energy shares from C$7.00 to C$7.50 and gave the company an “outperform” rating in a Friday, April 22 report. Finally, ATB Capital raised its price target on Tamarack Valley Energy shares from C$6.50 to C$6.75 and gave the company a “Strong Buy” rating in a Friday, April 22 report. . One investment analyst gave the stock a hold rating, six gave the stock a buy rating and three gave the company a high buy rating. Based on data from MarketBeat.com, the stock currently has an average buy rating and a consensus target price of C$6.50.

In a similar vein, director Marnie Smith acquired 19,097 shares of Tamarack Valley Energy in a transaction on Wednesday, May 11. The shares were purchased at an average cost of CA$4.64 per share, with a total value of CA$88,610.08. Following completion of the transaction, the administrator now directly owns 124,584 shares of the company, valued at approximately C$578,069.76. Additionally, director Ian Robert Currie acquired 8,775 shares of Tamarack Valley Energy in a trade on Friday, May 6. The shares were purchased at an average cost of C$5.05 per share, with a total value of C$44,313.75. Following the completion of the transaction, the administrator now owns 681,351 shares of the company, valued at C$3,440,822.55.

The company has a debt ratio of 39.24, a current ratio of 0.54 and a quick ratio of 0.50. The stock’s 50-day simple moving average is C$5.03 and its 200-day simple moving average is C$4.87. The stock has a market capitalization of C$1.80 billion and a P/E ratio of 3.92.

Tamarack Valley Energy (TSE:TVE – Get Rating) last released quarterly earnings data on Tuesday, May 3. The company reported EPS of C$0.06 for the quarter, missing analyst consensus estimates of C$0.17 by C$0.11. The company had revenue of C$298.90 million for the quarter. As a group, analysts expect Tamarack Valley Energy Ltd to post earnings per share of 0.63 for the current financial year.

The company also recently disclosed a monthly dividend, which was paid on Friday, May 13. Shareholders of record on Friday, April 29 received a dividend of $0.008 per share. The ex-dividend date was Thursday, April 28. This represents a dividend of $0.10 on an annualized basis and a yield of 2.36%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 2.41%.

Tamarack Valley Energy Company Profile (TSE:TVE)

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 the Cardium light oil fields at Wilson Creek/Alder Flats/Pembina and in the Garrington and Lochend areas of Alberta; The Viking light oil resource plays at Redwater and Westlock in Alberta, as well as in the Consort area of ​​southeastern Alberta and the Hoosier area of ​​southwestern Saskatchewan; the Barons Sands light oil fields located in the Penny region of southern Alberta; and heavy oil properties located in the Hatton area of ​​Saskatchewan.

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