Tamarack Valley Energy (TSE:TVE) Hits New 52-Week High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$11.55 and last traded at C$11.55, with a volume of 613953 shares traded. The stock had previously closed at C$11.20.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TVE shares. Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Raymond James Financial lowered shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Cormark Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Acumen Capital upped their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$10.11.

Tamarack Valley Energy Trading Up 4.2%

The business has a 50 day simple moving average of C$9.93 and a 200-day simple moving average of C$8.00. The stock has a market capitalization of C$5.65 billion, a price-to-earnings ratio of -166.71 and a beta of 0.70. The company has a debt-to-equity ratio of 37.29, a current ratio of 0.90 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%.The company had revenue of C$304.60 million for the quarter. As a group, equities analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio (DPR) is -220.24%.

Tamarack Valley Energy Company Profile

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.