Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$7.95 and last traded at C$7.91, with a volume of 220144 shares changing hands. The stock had previously closed at C$7.81.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TVE shares. Canaccord Genuity Group lowered shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Desjardins raised their price target on shares of Tamarack Valley Energy from C$7.75 to C$8.50 and gave the company a “buy” rating in a report on Monday, November 24th. CIBC lifted their price target on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. National Bankshares boosted their price objective on shares of 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. Finally, ATB Capital upped their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$7.78.

Tamarack Valley Energy Stock Up 1.3%

The stock has a market capitalization of C$3.89 billion, a P/E ratio of -46.53 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. The stock’s 50 day simple moving average is C$6.50 and its 200 day simple moving average is C$5.57.

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

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were paid a dividend of $0.0127 per share. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a yield of 1.9%. Tamarack Valley Energy’s dividend payout ratio is presently -89.85%.

Insider Activity at Tamarack Valley Energy

In other news, Director Shannon Joseph purchased 16,129 shares of the stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the acquisition, the director owned 38,328 shares of the company’s stock, valued at C$242,232.96. The trade was a 72.66% increase in their ownership of the stock. Insiders own 1.32% of the company’s stock.

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.