Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High – Here’s What Happened

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$6.46 and last traded at C$6.37, with a volume of 308025 shares traded. The stock had previously closed at C$6.31.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TVE shares. Canaccord Genuity Group cut shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Acumen Capital lifted 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. ATB Capital raised their price objective on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets increased their target price on Tamarack Valley Energy from C$8.00 to C$9.00 in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada boosted their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Tamarack Valley Energy has an average rating of “Moderate Buy” and an average price target of C$7.36.

Tamarack Valley Energy Stock Up 0.5%

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 business’s fifty day simple moving average is C$5.95 and its two-hundred day simple moving average is C$5.16. The company has a market cap of C$3.12 billion, a PE ratio of -37.29 and a beta of 0.79.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be issued a $0.0127 dividend. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, October 31st. Tamarack Valley Energy’s payout ratio is presently -89.85%.

About Tamarack Valley Energy

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.