Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High – What’s Next?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$8.35 and last traded at C$8.34, with a volume of 891441 shares traded. The stock had previously closed at C$8.16.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TVE. ATB Capital raised their price objective on Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. National Bankshares raised their price target on 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. Royal Bank Of Canada lifted their price target 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. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 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 report on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Price Performance

The company’s 50 day simple moving average is C$7.62 and its 200 day simple moving average is C$6.31. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The stock has a market capitalization of C$4.07 billion, a PE ratio of -48.65 and a beta of 0.81.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. The business had revenue of C$406.32 million for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. On average, equities analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

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

Insider Buying and Selling at Tamarack Valley Energy

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