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

Tamarack Valley Energy Ltd (TSE:TVE) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$12.06 and last traded at C$11.97, with a volume of 507466 shares changing hands. The stock had previously closed at C$11.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. National Bank Financial boosted their price objective on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Desjardins increased their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Acumen Capital upped their price target on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada boosted 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. 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$10.44.

Tamarack Valley Energy Stock Up 1.6%

The firm has a 50-day moving average of C$10.66 and a 200 day moving average of C$8.65. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 37.29. The stock has a market capitalization of C$5.81 billion, a price-to-earnings ratio of -171.29 and a beta of 0.34.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The business had revenue of C$304.60 million for the quarter. Tamarack Valley Energy had a negative net margin of 2.41% and a negative return on equity of 1.84%. On average, sell-side analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -220.24%.

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.