Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$11.22 and last traded at C$11.21, with a volume of 883603 shares trading hands. The stock had previously closed at C$10.95.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TVE. National Bank Financial increased their target price on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. BMO Capital Markets upped their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Stock Performance

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 firm has a market cap of C$5.41 billion, a PE ratio of -159.71 and a beta of 0.70. The stock’s 50 day moving average price is C$9.49 and its 200 day moving average price is C$7.71.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%.The firm had revenue of C$304.60 million during the quarter. As a group, equities analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.04 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.4%. Tamarack Valley Energy’s dividend payout ratio (DPR) is -220.24%.

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.