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

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high on Thursday . The company traded as high as C$14.00 and last traded at C$13.98, with a volume of 728538 shares changing hands. The stock had previously closed at C$13.57.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Desjardins lifted their target price on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. ATB Cormark Capital Markets upped 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 research note on Thursday, February 26th. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their price target on 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. Finally, National Bank Financial lifted their price objective on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Buy” and a consensus price target of C$12.73.

Tamarack Valley Energy Stock Up 3.2%

The stock’s 50-day moving average price is C$12.02 and its two-hundred day moving average price is C$9.93. The stock has a market capitalization of C$6.69 billion, a PE ratio of -77.78 and a beta of 0.28. The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The company had revenue of C$375.55 million for the quarter. As a group, analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio is currently -86.62%.

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.