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

by · The Markets Daily

Tamarack Valley Energy Ltd (TSE:TVE – Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as C$14.09 and last traded at C$14.02, with a volume of 536856 shares traded. The stock had previously closed at C$13.36.

Analysts Set New Price Targets

TVE has been the subject of a number of research analyst reports. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce lifted their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Raymond James Financial increased their target price on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Roth Capital set a C$15.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$13.70.

Get Our Latest Stock Analysis on Tamarack Valley Energy

Tamarack Valley Energy Stock Performance

The company’s 50-day simple moving average is C$13.18 and its 200-day simple moving average is C$12.25. The stock has a market cap of C$6.69 billion, a price-to-earnings ratio of 201.29 and a beta of 0.26. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million during the quarter. Analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be given a $0.05 dividend. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 225.24%.

Insider Buying and Selling

In related news, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the sale, the director owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. Also, Director Shannon Joseph purchased 27,521 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the purchase, the director owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. 1.32% of the stock is currently 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.

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