Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High on Analyst Upgrade

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from C$9.00 to C$11.00. The stock traded as high as C$7.67 and last traded at C$7.65, with a volume of 162855 shares traded. The stock had previously closed at C$7.60.

A number of other research analysts have also recently issued reports on TVE. Raymond James Financial lifted their price objective on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. ATB Capital boosted their target price on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. CIBC lifted their target price on Tamarack Valley Energy from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. National Bankshares increased their price objective on shares of Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group cut Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.58.

Insider Buying and Selling

In other news, Director Shannon Joseph acquired 16,129 shares of Tamarack Valley Energy stock in a transaction on Thursday, November 6th. The stock was purchased at an average price of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the purchase, the director owned 38,328 shares of the company’s stock, valued at approximately C$242,232.96. The trade was a 72.66% increase in their position. 1.32% of the stock is owned by insiders.

Tamarack Valley Energy Stock Performance

The company has a 50 day simple moving average of C$6.33 and a 200-day simple moving average of C$5.45. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The stock has a market cap of C$3.76 billion, a P/E ratio of -45.00 and a beta of 0.79.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. The company had revenue of C$406.32 million for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. On average, equities analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were paid a dividend of $0.0127 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently -89.85%.

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.