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

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

TVE has been the topic of several recent research reports. Raymond James Financial cut shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Desjardins boosted their price target on shares of 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. Canadian Imperial Bank of Commerce upped 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. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a report on Thursday, December 4th. Finally, BMO Capital Markets boosted their target price on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Stock Up 3.0%

The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The business’s 50 day simple moving average is C$8.39 and its 200 day simple moving average is C$6.93. The company has a market capitalization of C$4.67 billion, a PE ratio of -56.41 and a beta of 0.87.

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

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.