Tamarack Valley Energy (TSE:TVE – Get a Rating) had its target price reduced by National Bankshares from CA$8.00 to CA$7.00 in a research report released Thursday morning, BayStreet.CA reports.
A number of other stock analysts have also recently released reports on the company. Canaccord Genuity Group raised its price target on Tamarack Valley Energy from C$4.75 to C$5.00 in a Friday, January 14 report. CIBC raised its price target on shares of Tamarack Valley Energy from C$6.00 to C$7.00 in a Thursday, March 3 research note. Acumen Capital raised its price target on Tamarack Valley Energy shares from C$5.00 to C$5.50 and gave the company a buy rating in a Friday, Jan. 14 research note. ATB Capital raised its price target on Tamarack Valley Energy from C$4.75 to C$5.25 and gave the company a na rating in a Thursday, Dec. 16 report. Finally, Stifel Nicolaus reaffirmed a buy rating and set a C$6.50 price target on Tamarack Valley Energy shares in a Tuesday, February 1 research report. Two research analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company’s stock a strong buy rating. According to MarketBeat, the company currently has a buy consensus rating and an average target price of C$5.75.
TVE stock opened at C$5.06 on Thursday. The stock has a 50-day moving average of C$5.07 and a 200-day moving average of C$4.25. Tamarack Valley Energy has a fifty-two week low of C$2.05 and a fifty-two week high of C$6.09. The company has a market cap of C$2.19 billion and a price-to-earnings ratio of 4.69. The company has a debt ratio of 38.73, a quick ratio of 0.85 and a current ratio of 0.93.
The company also recently declared a monthly dividend, which was paid on Thursday, April 14. Investors of record on Thursday, March 31 received a dividend of $0.008 per share. This represents an annualized dividend of $0.10 and a dividend yield of 1.90%. The ex-dividend date was Wednesday, March 30. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 9.26%.
In related news, senior officer Brian Leslie Schmidt acquired 50,000 shares of the company in a transaction dated Monday, March 14. The shares were purchased at an average cost of CA$5.00 per share, with a total value of CA$250,000.00. Following the acquisition, the insider now owns 2,206,683 shares of the company, valued at approximately C$11,033,415. Additionally, director Robert Spitzer purchased 32,685 shares of the company in a transaction that took place on Wednesday, March 9. The stock was purchased at an average cost of C$5.42 per share, with a total value of C$176,992.54. Following the completion of the purchase, the director now owns 385,942 shares of the company, valued at C$2,089,914.52.
About Tamarack Valley Energy (Get an evaluation)
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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