Tamarack Valley Energy (TSE:TVE) Shares Down 1.9%

Posted by Defense World Staff on Mar 19th, 2023

Tamarack Valley Energy Ltd (TSE:TVE – Get Rating)’s stock price traded down 1.9% during trading on Friday . The company traded as low as C$3.68 and last traded at C$3.69. 603,600 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,125,952 shares. The stock had previously closed at C$3.76.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Raymond James reduced their price objective on shares of Tamarack Valley Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research note on Friday, March 3rd. Cormark reduced their price objective on shares of Tamarack Valley Energy from C$6.50 to C$6.00 in a research note on Thursday, December 8th. Finally, Stifel Nicolaus reduced their price objective on shares of Tamarack Valley Energy from C$6.50 to C$6.25 in a research note on Friday, March 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$7.39.

Tamarack Valley Energy Stock Down 3.5 %

The stock has a market capitalization of C$2.02 billion, a PE ratio of 5.19 and a beta of 2.78. The company has a debt-to-equity ratio of 55.79, a current ratio of 0.29 and a quick ratio of 0.80. The business’s fifty day moving average price is C$4.37 and its two-hundred day moving average price is C$4.44.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.013 per share. The ex-dividend date was Monday, February 27th. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.30%. Tamarack Valley Energy’s payout ratio is 21.43%.

About Tamarack Valley Energy

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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.