Tamarack Valley Energy (TSE:TVE) Trading 5.5% Higher – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE)’s share price shot up 5.5% on Thursday . The stock traded as high as C$12.84 and last traded at C$12.74. 251,701 shares were traded during trading, a decline of 88% from the average session volume of 2,168,199 shares. The stock had previously closed at C$12.08.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TVE. 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 stock an “outperform” rating in a research note on Thursday, February 26th. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Roth Mkm 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, National Bank Financial upped their price objective on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$10.90.

Tamarack Valley Energy Stock Up 6.0%

The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69. The firm’s 50-day moving average is C$11.82 and its two-hundred day moving average is C$9.71. The stock has a market cap of C$6.12 billion, a P/E ratio of -71.11 and a beta of 0.46.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The firm had revenue of C$375.55 million during the quarter. On average, equities research analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.16 annualized dividend and a dividend yield of 1.3%. Tamarack Valley Energy’s payout ratio is -86.62%.

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.