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

Key Points

• Tamarack Valley Energy shares reached a new 52-week high of C$14.05 and were recently trading around C$14.04, up 3.5% on the day.
• Analyst sentiment is broadly positive: all 10 tracked analysts rate the stock a Buy, though the average price target of C$13.70 is below the current share price. Recent targets range from C$15.00 to C$17.00.
• The company raised its quarterly dividend to C$0.05 per share, or C$0.20 annually, producing a 1.4% yield; however, its dividend payout ratio is high at 225.24%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$14.05 and last traded at C$14.04, with a volume of 1841287 shares traded. The stock had previously closed at C$13.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TVE shares. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, August 18th. Canadian Imperial Bank of Commerce raised their price objective 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. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and lifted their price objective for the stock from C$12.00 to C$15.00 in a research report 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 research note on Tuesday, May 19th. Finally, Raymond James Financial increased their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$13.70.

Tamarack Valley Energy Stock Up 3.5%

The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The firm has a market capitalization of C$6.67 billion, a PE ratio of 200.57 and a beta of 0.32. The business's 50-day moving average price is C$13.09 and its 200-day moving average price is C$12.14.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The firm had revenue of C$493.95 million for the quarter. As a group, equities research analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tamarack Valley Energy's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, September 15th. Tamarack Valley Energy's dividend payout ratio (DPR) is currently 225.24%.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Robert Spitzer sold 10,000 shares of the stock in a transaction on 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 approximately C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. Also, Director Shannon Joseph acquired 27,521 shares of Tamarack Valley Energy stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased 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 of the company's stock, valued at approximately C$833,682.56. The trade was a 70.83% increase in their position. 1.32% of the stock is currently owned by company insiders.

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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