Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High – Here’s Why

Shares of Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$9.76 and last traded at C$9.72, with a volume of 424935 shares trading hands. The stock had previously closed at C$9.43.

Analyst Ratings Changes

Several research firms have issued reports on TVE. Royal Bank Of Canada upped their price target 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. Desjardins boosted their target price on Tamarack Valley Energy from C$8.50 to C$8.75 and gave the stock a “buy” rating in a research report on Thursday, December 4th. National Bankshares increased 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. Canaccord Genuity Group lifted their price target on Tamarack Valley Energy from C$6.75 to C$8.00 in a research note on Thursday, December 4th. Finally, ATB Capital upped their price objective on shares of 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$8.92.

Tamarack Valley Energy Price Performance

The company has a market capitalization of C$4.78 billion, a PE ratio of -57.71 and a beta of 0.87. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The stock has a 50 day moving average price of C$8.30 and a two-hundred day moving average price of C$6.86.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The firm had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. Equities analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

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.