Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$7.95 and last traded at C$7.91, with a volume of 220144 shares changing hands. The stock had previously closed at C$7.81.

Wall Street Analysts Forecast Growth

TVE has been the topic of a number of analyst reports. BMO Capital Markets raised their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Raymond James Financial boosted their price target on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. ATB Capital increased their price target on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. CIBC lifted 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. Finally, Desjardins upped their target price on Tamarack Valley Energy from C$7.75 to C$8.50 and gave the company a “buy” rating in a research note on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Tamarack Valley Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$7.78.

Tamarack Valley Energy Trading Up 1.3%

The company has a market capitalization of C$3.89 billion, a PE ratio of -46.53 and a beta of 0.79. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The business has a fifty day moving average price of C$6.50 and a 200 day moving average price of C$5.57.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The business had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. Analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were issued a $0.0127 dividend. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, October 31st. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

Insider Buying and Selling

In related news, Director Shannon Joseph acquired 16,129 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the transaction, the director directly 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. 1.32% of the stock is owned by company insiders.

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.