Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High – Still a Buy?

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during trading on Wednesday . The company traded as high as C$13.16 and last traded at C$12.82, with a volume of 3035776 shares trading hands. The stock had previously closed at C$12.39.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. ATB Cormark Capital Markets upped their price target on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Acumen Capital upped their price target on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group upped their price target on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Desjardins upped their price target on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Six investment 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 a consensus target price of C$10.44.

Tamarack Valley Energy Stock Down 1.2%

The stock’s fifty day moving average is C$11.00 and its two-hundred day moving average is C$8.90. 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 has a market cap of C$6.17 billion, a P/E ratio of -182.00 and a beta of 0.34.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share 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 anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio is -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.