Tamarack Valley Energy (TSE:TVE) Shares Up 7% – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE) traded up 7% during trading on Thursday . The stock traded as high as C$11.51 and last traded at C$11.49. 298,394 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,225,239 shares. The stock had previously closed at C$10.74.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TVE shares. National Bank Financial upped their target price 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. Canaccord Genuity Group boosted their price objective on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Desjardins upped their price objective on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. ATB Cormark Capital Markets raised their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial lowered shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.11.

Tamarack Valley Energy Stock Up 4.5%

The company has a debt-to-equity ratio of 37.29, a current ratio of 0.90 and a quick ratio of 0.80. The firm has a market capitalization of C$5.43 billion, a P/E ratio of -160.29 and a beta of 0.70. The firm’s fifty day moving average price is C$10.09 and its 200-day moving average price is C$8.11.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) 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 for the quarter. As a group, equities research analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy’s payout ratio is -220.24%.

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.