Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High – What’s Next?

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

Analyst Ratings Changes

TVE has been the topic of several research reports. Desjardins lifted their price objective on 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. National Bank Financial increased their price objective on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. ATB Cormark Capital Markets boosted their target price on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Royal Bank Of Canada upped their target price on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$10.44.

Tamarack Valley Energy Trading Up 3.8%

The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69. The stock has a fifty day moving average of C$11.40 and a 200 day moving average of C$9.29. The company has a market capitalization of C$6.35 billion, a P/E ratio of -73.78 and a beta of 0.46.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The firm had revenue of C$375.55 million for the quarter. As a group, equities research analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

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