Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$14.09 and last traded at C$14.02, with a volume of 536856 shares traded. The stock had previously closed at C$13.36.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Desjardins raised their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday. Canadian Imperial Bank of Commerce upped their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Jefferies Financial Group set a C$17.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$13.93.

Tamarack Valley Energy Stock Down 1.4%

The stock has a market cap of C$6.47 billion, a price-to-earnings ratio of 194.43 and a beta of 0.26. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The firm’s 50 day moving average is C$13.23 and its two-hundred day moving average is C$12.31.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The business had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. On average, sell-side analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.05 dividend. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 1.5%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 225.24%.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the sale, the director directly owned 424,442 shares in the company, valued at C$5,526,234.84. This represents a 2.30% decrease in their ownership of the stock. Also, Director Shannon Joseph bought 27,521 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the transaction, the director owned 66,376 shares in the company, valued at approximately C$833,682.56. This represents a 70.83% increase in their position. 1.32% of the stock is currently owned by insiders.

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.