Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High – What’s Next?

by · The Cerbat Gem

Tamarack Valley Energy Ltd (TSE:TVE – Get Free Report)’s share price hit a new 52-week high on Tuesday . The stock traded as high as C$9.26 and last traded at C$9.23, with a volume of 1760047 shares. The stock had previously closed at C$8.84.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TVE shares. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Raymond James Financial lowered shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Capital upped their price objective on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Royal Bank Of Canada increased their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Acumen Capital boosted their price objective on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

Read Our Latest Research Report on TVE

Tamarack Valley Energy Trading Up 5.2%

The company has a market cap of C$4.53 billion, a P/E ratio of -54.71 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm’s 50-day moving average price is C$7.90 and its 200-day moving average price is C$6.52.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last released its quarterly earnings data on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. The business had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. As a group, equities research analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were paid a $0.0127 dividend. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a yield of 1.6%. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently -89.85%.

Insiders Place Their Bets

In related news, Director Shannon Joseph purchased 16,129 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the transaction, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their position. 1.32% of the stock is owned by 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.

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