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

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during mid-day trading on Thursday . The company 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 recently issued reports on TVE shares. CIBC boosted their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Acumen Capital raised their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$5.23.

Tamarack Valley Energy Price Performance

The business has a 50-day moving average of C$4.10 and a two-hundred day moving average of C$3.89. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The firm has a market cap of C$2.49 billion, a P/E ratio of 19.26 and a beta of 2.49.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date is Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is 65.22%.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga purchased 13,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of C$3.99 per share, for a total transaction of C$51,870.00. 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.