Tamarack Valley Energy (TSE:TVE) Stock Price Up 7% – Still a Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s share price shot up 7% on Thursday . The company traded as high as C$11.51 and last traded at C$11.49. 298,394 shares were traded during trading, a decline of 87% from the average session volume of 2,225,239 shares. The stock had previously closed at C$10.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TVE shares. Canadian Imperial Bank of Commerce raised their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Canaccord Genuity Group upped their price target on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Acumen Capital increased their price objective on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada lifted 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 note on Thursday, December 4th. Finally, Raymond James Financial downgraded shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Stock Up 4.5%

The firm has a market cap of C$5.43 billion, a P/E ratio of -160.29 and a beta of 0.70. The firm’s 50-day moving average price is C$10.09 and its 200 day moving average price is C$8.11. The company has a debt-to-equity ratio of 37.29, a current ratio of 0.90 and a quick ratio of 0.80.

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

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.04 per share. The ex-dividend date was Friday, March 13th. This represents a $0.16 annualized dividend and a yield of 1.4%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -220.24%.

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.