Tamarack Valley Energy (TSE:TVE) Stock Price Down 9.4% – Should You Sell?
by Doug Wharley · The Cerbat GemTamarack Valley Energy Ltd (TSE:TVE – Get Free Report) shares fell 9.4% during trading on Wednesday . The company traded as low as C$10.30 and last traded at C$10.47. 201,551 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,261,004 shares. The stock had previously closed at C$11.55.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. ATB Cormark Capital Markets increased their price objective on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Acumen Capital increased their price objective on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Desjardins increased their price objective on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Canaccord Genuity Group increased their price objective on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Finally, National Bank Financial increased their price objective on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$10.11.
Read Our Latest Analysis on Tamarack Valley Energy
Tamarack Valley Energy Stock Performance
The company has a debt-to-equity ratio of 37.29, a quick ratio of 0.80 and a current ratio of 0.90. The stock has a fifty day simple moving average of C$10.33 and a two-hundred day simple moving average of C$8.31. The stock has a market capitalization of C$5.17 billion, a price-to-earnings ratio of -152.57 and a beta of 0.34.
Tamarack Valley Energy (TSE:TVE – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%.The firm had revenue of C$304.60 million during the quarter. Analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share 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. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -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.