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

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$5.18 and last traded at C$5.16, with a volume of 1026619 shares. The stock had previously closed at C$5.09.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. CIBC dropped their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a research note on Thursday, April 10th. Desjardins lowered Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday, June 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy currently has an average rating of "Moderate Buy" and a consensus target price of C$5.91.

Tamarack Valley Energy Trading Down 0.2%

The firm has a market capitalization of C$2.76 billion, a price-to-earnings ratio of 13.37 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The firm's 50-day simple moving average is C$4.77 and its 200 day simple moving average is C$4.40.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.0127 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.15 annualized dividend and a dividend yield of 2.92%. Tamarack Valley Energy's dividend payout ratio (DPR) is presently 38.41%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Rene Amirault acquired 85,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of C$4.12 per share, for a total transaction of C$352,260.00. 1.32% of the stock is currently owned by insiders.

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.