Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high on Thursday . The company traded as high as C$14.00 and last traded at C$13.98, with a volume of 728538 shares changing hands. The stock had previously closed at C$13.57.

Analyst Ratings Changes

A number of research analysts have weighed in on TVE shares. ATB Cormark Capital Markets lifted their price objective 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. Raymond James Financial raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$12.00 to C$15.00 in a report on Friday, May 29th. Desjardins boosted their target price on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, National Bank Financial boosted their target price on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, Tamarack Valley Energy presently has a consensus rating of “Buy” and an average target price of C$12.73.

Tamarack Valley Energy Stock Down 4.6%

The firm has a market cap of C$6.36 billion, a PE ratio of -73.89 and a beta of 0.28. The business’s 50 day moving average price is C$12.13 and its 200 day moving average price is C$10.00. The company has a debt-to-equity ratio of 37.62, a current ratio of 0.69 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The business had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. On average, equities research analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, June 15th. Tamarack Valley Energy’s payout ratio is presently -86.62%.

Insiders Place Their Bets

In other news, Director Rene Amirault bought 78,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the acquisition, the director directly owned 454,602 shares of the company’s stock, valued at C$5,950,740.18. This trade represents a 20.87% increase in their position. In the last quarter, insiders have bought 84,866 shares of company stock valued at $1,061,310. Insiders own 1.32% of the company’s stock.

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.