Tamarack Valley Energy (TSE:TVE) Sets New 52-Week High – Still a Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Desjardins increased their target price on Tamarack Valley Energy from C$8.50 to C$8.75 and gave the company a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. BMO Capital Markets upped their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Finally, National Bankshares 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 report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.92.

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 50-day moving average price of C$7.75 and a 200-day moving average price of C$6.42. The firm has a market capitalization of C$4.09 billion, a PE ratio of -49.41 and a beta of 0.81.

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 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, research analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were paid a $0.0127 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, October 31st. Tamarack Valley Energy’s payout ratio is -89.85%.

Insider Buying and Selling

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

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.