Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High - Here's What Happened

Key Points

• Tamarack Valley Energy shares reached a new 52-week high of C$14.03, up 4.2% from the previous close, with roughly 1.38 million shares traded.
• Analyst sentiment remains positive: all 10 tracked analysts rate the stock a Buy, with a consensus price target of C$13.70 and individual targets ranging from C$15.00 to C$17.00.
• The company reported quarterly EPS of C$0.43 on C$493.95 million in revenue and pays a quarterly dividend of $0.04 per share, although its 225.24% payout ratio exceeds reported earnings.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as C$14.03 and last traded at C$14.03, with a volume of 1383845 shares traded. The stock had previously closed at C$13.47.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TVE shares. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the stock a "buy" rating in a report on Tuesday, August 18th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and raised their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Roth Capital set a C$15.00 target price on shares of Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce boosted their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an "outperformer" rating in a research note on Friday, May 29th. Finally, Desjardins set a C$16.00 price objective on Tamarack Valley Energy and gave the company a "buy" rating in a report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$13.70.

Tamarack Valley Energy Stock Up 4.2%

The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm's 50-day simple moving average is C$12.99 and its two-hundred day simple moving average is C$12.02. The company has a market capitalization of C$6.67 billion, a price-to-earnings ratio of 200.57 and a beta of 0.32.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. The company 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%. Sell-side analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 15th. Tamarack Valley Energy's payout ratio is 225.24%.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Shannon Joseph bought 27,521 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was purchased at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the acquisition, the director owned 66,376 shares of the company's stock, valued at C$833,682.56. The trade was a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were 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 trade represents a 2.30% decrease in their position. Insiders have acquired 106,411 shares of company stock worth $1,378,494 in the last three months. Corporate insiders own 1.32% of the company's stock.

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.

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