Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$13.21 and last traded at C$13.19, with a volume of 836204 shares traded. The stock had previously closed at C$12.79.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. ATB Cormark Capital Markets upped their target price on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Acumen Capital upped their price target 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. Desjardins upped their price target on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, National Bank Financial upped their price target on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$10.44.

Tamarack Valley Energy Trading Up 4.3%

The firm’s 50-day simple moving average is C$11.46 and its 200-day simple moving average is C$9.32. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 37.62. The firm has a market capitalization of C$6.38 billion, a PE ratio of -74.11 and a beta of 0.46.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The business had revenue of C$375.55 million during the quarter. Equities analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio is -86.62%.

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.