Tamarack Valley Energy (TSE:TVE) Sets New 52-Week High – Here’s What Happened

Tamarack Valley Energy Ltd (TSE:TVE)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$14.03 and last traded at C$14.03, with a volume of 1383845 shares. The stock had previously closed at C$13.47.

Wall Street Analyst Weigh In

TVE has been the topic of a number of analyst reports. Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, May 19th. Raymond James Financial increased their target price on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Canaccord Genuity Group raised Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Desjardins set a C$16.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$13.70.

Tamarack Valley Energy Price Performance

The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm’s 50 day moving average is C$13.04 and its 200 day moving average is C$12.06. The firm has a market cap of C$6.44 billion, a P/E ratio of 193.57 and a beta of 0.32.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million during the quarter. As a group, analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, June 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Tamarack Valley Energy’s payout ratio is presently 225.24%.

Insiders Place Their Bets

In other news, Director Rene Amirault acquired 78,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the transaction, the director 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. Also, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the transaction, the director directly owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. Over the last three months, insiders have purchased 106,411 shares of company stock valued at $1,378,494. 1.32% of the stock is currently owned by corporate insiders.

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.