Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.00 at BMO Capital Markets

Tamarack Valley Energy (TSE:TVE) had its target price increased by BMO Capital Markets from C$5.50 to C$6.00 in a report published on Friday,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada raised their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. CIBC upped 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 report on Friday, November 1st. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Finally, Acumen Capital upped their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$5.50.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$4.39 on Friday. The stock’s 50-day moving average is C$4.27 and its two-hundred day moving average is C$3.98. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a 1 year low of C$2.90 and a 1 year high of C$4.70. The firm has a market cap of C$2.39 billion, a price-to-earnings ratio of 19.09 and a beta of 2.49.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.0127 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.47%. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s payout ratio is currently 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.