Tamarack Valley Energy (TSE:TVE) Sets New 52-Week High – Time to Buy?

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during trading on Thursday . The company traded as high as C$14.03 and last traded at C$14.03, with a volume of 1383845 shares. The stock had previously closed at C$13.47.

Analyst Ratings Changes

TVE has been the subject of several research reports. Raymond James Financial lifted their target price on 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. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Canadian Imperial Bank of Commerce increased their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Finally, Desjardins set a C$16.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Buy” and an average price target of C$13.70.

Tamarack Valley Energy Stock Performance

The stock has a market cap of C$6.67 billion, a price-to-earnings ratio of 200.57 and a beta of 0.32. The stock’s 50-day simple moving average is C$12.99 and its two-hundred day simple moving average is C$12.02. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30.

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

Tamarack Valley Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio is presently 225.24%.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Shannon Joseph acquired 27,521 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the transaction, the director owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. This represents a 70.83% increase in their ownership of the stock. Also, 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 transaction of C$130,200.00. Following the transaction, the director directly owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. This represents a 2.30% decrease in their position. Insiders purchased a total of 106,411 shares of company stock valued at $1,378,494 in the last ninety days. Company insiders own 1.32% of the company’s stock.

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.