Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TVE. Raymond James Financial lowered Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada increased 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 report on Thursday, December 4th. BMO Capital Markets raised their price objective on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. National Bankshares increased their target price on 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. Finally, CIBC upped their price target on 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Stock Performance

The firm has a market cap of C$4.10 billion, a price-to-earnings ratio of -49.00 and a beta of 0.81. The stock has a 50-day moving average of C$7.69 and a 200-day moving average of C$6.35. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results 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. As a group, analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were given a dividend of $0.0127 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a yield of 1.8%. Tamarack Valley Energy’s payout ratio is -89.85%.

Insider Activity at Tamarack Valley Energy

In related news, Director Shannon Joseph acquired 16,129 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the acquisition, the director directly 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 ownership of the stock. 1.32% of the stock is currently 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.