Tamarack Valley Energy (TSE:TVE) Hits New 52-Week High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$9.26 and last traded at C$9.23, with a volume of 1760047 shares changing hands. The stock had previously closed at C$8.84.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Acumen Capital upped their price objective on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research report on Thursday, October 30th. Raymond James Financial cut Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Capital increased their price objective on Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. BMO Capital Markets lifted their price objective on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Finally, National Bankshares upped their target price 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Price Performance

The firm has a 50-day simple moving average of C$8.03 and a 200-day simple moving average of C$6.59. The firm has a market capitalization of C$4.62 billion, a PE ratio of -55.88 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.

Tamarack Valley Energy (TSE:TVE) last issued 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 during the quarter. As a group, equities analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a $0.0127 dividend. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, October 31st. Tamarack Valley Energy’s dividend payout ratio is -89.85%.

Insider Buying and Selling

In related news, Director Shannon Joseph bought 16,129 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the transaction, the director 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. 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.