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

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high on Thursday . The stock traded as high as C$4.59 and last traded at C$4.57, with a volume of 3056868 shares changing hands. The stock had previously closed at C$4.43.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. CIBC upped their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, National Bankshares lifted their price target on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and an average price target of C$5.23.

Tamarack Valley Energy Stock Up 0.9 %

The business has a fifty day moving average of C$4.14 and a 200 day moving average of C$3.91. The stock has a market capitalization of C$2.51 billion, a price-to-earnings ratio of 20.04 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a $0.0127 dividend. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 29th. Tamarack Valley Energy’s payout ratio is 65.22%.

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.