Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High After Dividend Announcement

Key Points

• Tamarack Valley Energy reached a new 52-week high of C$5.79 following the announcement of a dividend of $0.0128 per share, payable on October 15th.
• Brokerages like Royal Bank of Canada and Raymond James have upgraded their price targets for Tamarack Valley Energy, with the consensus target now at C$6.33.
• The company holds a market capitalization of C$2.88 billion and has a P/E ratio of 12.04, indicating its potential profitability in the energy sector.

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as C$5.79 and last traded at C$5.79, with a volume of 73498 shares changing hands. The stock had previously closed at C$5.73.

The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.0128 dividend. Tamarack Valley Energy's payout ratio is 31.67%.

Analyst Ratings Changes

TVE has been the subject of a number of recent analyst reports. Raymond James Financial boosted their target price on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. ATB Capital boosted their target price on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Desjardins upped their price target on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a "hold" rating in a research report on Friday. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, CIBC upped their price target on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the company an "outperform" rating in a research report on Friday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$6.58.

Tamarack Valley Energy Stock Down 2.2%

The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company has a fifty day moving average of C$5.38 and a two-hundred day moving average of C$4.66. The company has a market cap of C$2.93 billion, a PE ratio of 12.27 and a beta of 1.12.

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.