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

Shares of Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$11.02 and last traded at C$10.89, with a volume of 719918 shares changing hands. The stock had previously closed at C$10.76.

Wall Street Analysts Forecast Growth

TVE has been the topic of a number of analyst reports. Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Desjardins upped their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada raised their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. BMO Capital Markets lifted their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Finally, Canaccord Genuity Group boosted their price target on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.11.

Tamarack Valley Energy Trading Down 2.6%

The stock has a market cap of C$5.19 billion, a PE ratio of -153.14 and a beta of 0.70. The company’s 50-day moving average price is C$9.29 and its 200 day moving average price is C$7.58. The company has a debt-to-equity ratio of 37.29, a quick ratio of 0.80 and a current ratio of 0.90.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%. On average, sell-side analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio is -220.24%.

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.