Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High – What’s Next?

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during trading on Thursday . The company traded as high as C$8.35 and last traded at C$8.34, with a volume of 891441 shares trading hands. The stock had previously closed at C$8.16.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TVE. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Desjardins lifted their target price on Tamarack Valley Energy from C$8.50 to C$8.75 and gave the company a “buy” rating in a research note on Thursday, December 4th. Acumen Capital upped their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets increased their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Finally, Royal Bank Of Canada boosted their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$8.92.

Tamarack Valley Energy Trading Up 1.3%

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 has a 50 day moving average price of C$7.62 and a 200-day moving average price of C$6.31. The firm has a market capitalization of C$4.07 billion, a PE ratio of -48.65 and a beta of 0.81.

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

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 14th. Stockholders 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 1.8%. Tamarack Valley Energy’s dividend payout ratio is -89.85%.

Insider Activity

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