Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high on Wednesday . The stock traded as high as C$9.76 and last traded at C$9.72, with a volume of 424935 shares trading hands. The stock had previously closed at C$9.43.

Analyst Ratings Changes

TVE has been the subject of a number of research analyst reports. Acumen Capital upped their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a report on Thursday, October 30th. BMO Capital Markets upped their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Desjardins increased their price target on shares of Tamarack Valley Energy from C$8.50 to C$8.75 and gave the company a “buy” rating in a report on Thursday, December 4th. Royal Bank Of Canada boosted their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, National Bankshares upped their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Trading Up 4.0%

The business’s 50 day moving average price is C$8.30 and its 200-day moving average price is C$6.86. The company has a market cap of C$4.78 billion, a price-to-earnings ratio of -57.71 and a beta of 0.87. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

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

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.