Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High After Analyst Upgrade

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$9.00 to C$11.00. The company traded as high as C$7.67 and last traded at C$7.65, with a volume of 162855 shares trading hands. The stock had previously closed at C$7.60.

Several other equities research analysts have also recently issued reports on TVE. Royal Bank Of Canada raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. National Bankshares raised their target price on shares of Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. CIBC boosted their price objective on Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Desjardins raised Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 16th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$7.58.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Shannon Joseph acquired 16,129 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of C$6.32 per share, with a total value 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. Insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Stock Performance

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 has a market capitalization of C$3.76 billion, a price-to-earnings ratio of -45.00 and a beta of 0.79. The firm has a fifty day moving average of C$6.33 and a 200 day moving average of C$5.45.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share (EPS) for the quarter. The firm had revenue of C$406.32 million for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. On average, sell-side analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were given a dividend of $0.0127 per share. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -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.