Tamarack Valley Energy (TSE:TVE) Hits New 52-Week High – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE) shares hit a new 52-week high during trading on Friday . The company traded as high as C$11.55 and last traded at C$11.55, with a volume of 613953 shares traded. The stock had previously closed at C$11.20.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TVE. Royal Bank Of Canada increased their price objective 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. National Bank Financial lifted their target price 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. Desjardins upped their target price 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. ATB Cormark Capital Markets increased their price target on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Finally, Raymond James Financial lowered shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Stock Performance

The firm’s fifty day simple moving average is C$9.86 and its 200 day simple moving average is C$7.94. The company has a market capitalization of C$5.65 billion, a PE ratio of -166.71 and a beta of 0.70. The company has a debt-to-equity ratio of 37.29, a current ratio of 0.90 and a quick ratio of 0.80.

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

Tamarack Valley Energy Announces Dividend

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