Tamarack Valley Energy (TSE:TVE) Sets New 52-Week High After Analyst Upgrade

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during trading on Friday after National Bankshares raised their price target on the stock from C$6.75 to C$7.00. National Bankshares currently has an outperform rating on the stock. Tamarack Valley Energy traded as high as C$4.35 and last traded at C$4.29, with a volume of 1866046 shares trading hands. The stock had previously closed at C$4.15.

TVE has been the topic of a number of other reports. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. BMO Capital Markets upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. CIBC raised their target price 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. Acumen Capital lifted their target price 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. Finally, Royal Bank of Canada increased their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$5.23.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga acquired 8,000 shares of Tamarack Valley Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of C$3.67 per share, for a total transaction of C$29,367.20. Insiders have bought 28,173 shares of company stock worth $107,945 over the last quarter. 1.32% of the stock is owned by corporate insiders.

Tamarack Valley Energy Trading Up 2.7 %

The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The firm’s 50 day moving average is C$3.97 and its two-hundred day moving average is C$3.84. The stock has a market cap of C$2.32 billion, a price-to-earnings ratio of 18.52 and a beta of 2.49.

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

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, October 31st. 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.