Tamarack Valley Energy (TSE:TVE) Hits New 52-Week High on Analyst Upgrade

Shares of Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high on Friday after National Bankshares raised their price target on the stock from C$6.75 to C$7.00. National Bankshares currently has an outperform rating on the stock. Tamarack Valley Energy traded as high as C$4.35 and last traded at C$4.29, with a volume of 1866046 shares traded. The stock had previously closed at C$4.15.

TVE has been the subject of several other reports. Royal Bank of Canada raised their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday. CIBC lifted their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. Acumen Capital boosted their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday. Finally, Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.23.

Insiders Place Their Bets

In related news, Senior Officer Christine Ezinga acquired 13,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders acquired 28,173 shares of company stock valued at $107,945 over the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Stock Performance

The firm’s fifty day moving average price is C$3.97 and its 200-day moving average price is C$3.84. The company has a market cap of C$2.32 billion, a P/E ratio of 18.52 and a beta of 2.49. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. The business had revenue of C$382.98 million for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. As a group, research analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.0125 per share. This represents a $0.15 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, October 31st. Tamarack Valley Energy’s payout ratio is presently 65.22%.

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.