Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVEGet Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$14.09 and last traded at C$14.02, with a volume of 536856 shares changing hands. The stock had previously closed at C$13.36.

Analyst Upgrades and Downgrades

Several brokerages have commented on TVE. Canadian Imperial Bank of Commerce boosted their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research report on Friday, May 29th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Desjardins set a C$16.00 target price on shares of Tamarack Valley Energy and gave the company a “buy” rating in a report on Friday, July 17th. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$13.70.

Get Our Latest Stock Analysis on TVE

Tamarack Valley Energy Stock Performance

The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The firm has a market capitalization of C$6.69 billion, a PE ratio of 201.29 and a beta of 0.26. The stock’s 50 day moving average price is C$13.18 and its two-hundred day moving average price is C$12.25.

Tamarack Valley Energy (TSE:TVEGet Free Report) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. On average, equities analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. Tamarack Valley Energy’s dividend payout ratio is 225.24%.

Insiders Place Their Bets

In related news, 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 sale, the director owned 424,442 shares in the company, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their position. Also, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the purchase, the director directly owned 66,376 shares in the company, valued at C$833,682.56. The trade was a 70.83% increase in their position. 1.32% of the stock is owned by company insiders.

Tamarack Valley Energy Company Profile

(Get Free Report)

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.

Further Reading

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