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

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$11.55 and last traded at C$11.55, with a volume of 613953 shares trading hands. The stock had previously closed at C$11.20.

Wall Street Analyst Weigh In

TVE has been the topic of several analyst reports. National Bank Financial raised their price target on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce upped their price objective on shares of 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. Desjardins increased their target price on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. ATB Cormark Capital Markets raised their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, Raymond James Financial lowered Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$10.11.

Tamarack Valley Energy Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 37.29. The firm’s fifty day moving average is C$9.86 and its 200 day moving average is C$7.94. The company has a market cap of C$5.65 billion, a PE ratio of -166.71 and a beta of 0.70.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The business had revenue of C$304.60 million for the quarter. Tamarack Valley Energy had a negative net margin of 2.41% and a negative return on equity of 1.84%. As a group, research analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 13th. Tamarack Valley Energy’s payout ratio is presently -220.24%.

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.