Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High – Here’s Why

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$6.46 and last traded at C$6.37, with a volume of 308025 shares trading hands. The stock had previously closed at C$6.31.

Analyst Upgrades and Downgrades

TVE has been the subject of a number of research analyst reports. National Bankshares boosted their target price on Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. CIBC raised their target price on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Raymond James Financial lifted their price objective on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada increased their target price on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Desjardins upgraded Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 16th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.36.

Tamarack Valley Energy Stock Performance

The stock’s 50 day moving average is C$6.00 and its two-hundred day moving average is C$5.18. The stock has a market capitalization of C$3.24 billion, a price-to-earnings ratio of -38.76 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 14th will be given a $0.0127 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.3%. Tamarack Valley Energy’s dividend payout ratio is presently -89.85%.

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.