Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high on Friday . The stock traded as high as C$4.35 and last traded at C$4.29, with a volume of 1866046 shares traded. The stock had previously closed at C$4.15.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TVE. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. National Bankshares cut their target price on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th. BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, CIBC lifted their price objective on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.03.

Tamarack Valley Energy Stock Performance

The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The company has a market cap of C$2.31 billion, a price-to-earnings ratio of 18.04 and a beta of 2.49. The firm’s 50-day moving average price is C$3.97 and its 200 day moving average price is C$3.84.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. The company had revenue of C$382.98 million during the quarter. On average, sell-side analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.15 annualized dividend and a dividend yield of 3.53%. Tamarack Valley Energy’s payout ratio is currently 65.22%.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga purchased 13,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders have bought 28,173 shares of company stock worth $107,945 in the last ninety days. Company 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.