Tamarack Valley Energy (TSE:TVE) Trading 5.5% Higher – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price rose 5.5% during trading on Thursday . The company traded as high as C$12.84 and last traded at C$12.74. Approximately 251,701 shares were traded during trading, a decline of 88% from the average daily volume of 2,168,199 shares. The stock had previously closed at C$12.08.

Wall Street Analyst Weigh In

TVE has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. National Bank Financial raised their price objective on shares of 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 raised their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. ATB Cormark Capital Markets raised their price objective 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, Roth Mkm set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.90.

Tamarack Valley Energy Stock Performance

The stock’s 50 day moving average price is C$11.82 and its 200 day moving average price is C$9.71. The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 37.62. The company has a market capitalization of C$6.12 billion, a price-to-earnings ratio of -71.11 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 net margin of 6.60% and a negative return on equity of 5.03%. The company had revenue of C$375.55 million during the quarter. Analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio is currently -86.62%.

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.