Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high on Tuesday . The company traded as high as C$9.26 and last traded at C$9.23, with a volume of 1760047 shares traded. The stock had previously closed at C$8.84.

Wall Street Analyst Weigh In

TVE has been the topic of several research reports. ATB Capital upped their price target on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a report on Thursday, December 4th. Acumen Capital boosted their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research note on Thursday, October 30th. CIBC increased their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, BMO Capital Markets raised their price objective on Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and an average target price of C$8.92.

Tamarack Valley Energy Trading Up 5.2%

The company has a market capitalization of C$4.53 billion, a price-to-earnings ratio of -54.71 and a beta of 0.81. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The business’s 50 day moving average price is C$7.90 and its two-hundred day moving average price is C$6.52.

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

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a $0.0127 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 1.6%. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

Insider Transactions at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Shannon Joseph bought 16,129 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the transaction, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their ownership of the stock. 1.32% of the stock is currently owned by company insiders.

Tamarack Valley Energy Company Profile

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.