Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High – What’s Next?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$8.60 and last traded at C$8.40, with a volume of 1610578 shares traded. The stock had previously closed at C$8.42.

Wall Street Analysts Forecast Growth

TVE has been the subject of a number of research reports. Desjardins upped their price objective on shares of Tamarack Valley Energy from C$8.50 to C$8.75 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group upped their price target on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. CIBC 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 research note on Thursday, December 4th. 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 stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Acumen Capital upped their target price on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$8.92.

Tamarack Valley Energy Price Performance

The company has a market cap of C$4.32 billion, a PE ratio of -52.24 and a beta of 0.81. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The stock’s 50-day moving average is C$7.83 and its 200 day moving average is C$6.45.

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. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The business had revenue of C$406.32 million for the quarter. On average, equities analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were paid a $0.0127 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 1.7%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -89.85%.

Insiders Place Their Bets

In related news, Director Shannon Joseph purchased 16,129 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the purchase, the director owned 38,328 shares of the company’s stock, valued at C$242,232.96. This trade represents a 72.66% increase in their position. Corporate insiders own 1.32% of the company’s stock.

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.