Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$12.06 and last traded at C$11.97, with a volume of 507466 shares changing hands. The stock had previously closed at C$11.80.

Analysts Set New Price Targets

Several research firms recently commented on TVE. Canaccord Genuity Group raised their price target 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. Royal Bank Of Canada increased their target price on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. National Bank Financial upped 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. Acumen Capital raised their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Desjardins raised their price target 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$10.44.

Tamarack Valley Energy Trading Up 1.6%

The firm has a market cap of C$5.81 billion, a P/E ratio of -171.29 and a beta of 0.34. 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 company’s fifty day moving average price is C$10.66 and its two-hundred day moving average price is C$8.65.

Tamarack Valley Energy (TSE:TVE) last posted 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 net margin of 2.41% and a negative return on equity of 1.84%. The company had revenue of C$304.60 million during the quarter. As a group, sell-side analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently -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.