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

Key Points

• Shares of Tamarack Valley Energy hit a new 52-week high, trading as high as C$11.02 and last at C$10.89 on volume of about 719,918 shares.
• Analysts have largely raised targets and ratings—six Buys and two Holds—resulting in a consensus Moderate Buy and an average target price of C$10.11, with several firms lifting targets to around C$11.00–C$11.50.
• Tamarack announced a quarterly dividend of C$0.04 (C$0.16 annualized, 1.5% yield), with an ex-dividend date of March 13 and payment on March 31.

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$11.02 and last traded at C$10.89, with a volume of 719918 shares trading hands. The stock had previously closed at C$10.76.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Raymond James Financial downgraded Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, December 9th. ATB Cormark Capital Markets lifted their price objective on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an "outperform" rating in a report on Thursday, February 26th. BMO Capital Markets upped their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Desjardins raised their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$10.11.

Tamarack Valley Energy Stock Up 1.0%

The company has a debt-to-equity ratio of 37.29, a quick ratio of 0.80 and a current ratio of 0.90. The firm's fifty day simple moving average is C$9.18 and its 200 day simple moving average is C$7.52. The stock has a market capitalization of C$5.26 billion, a price-to-earnings ratio of -155.29 and a beta of 0.70.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%.The company had revenue of C$304.60 million during the quarter. On average, sell-side analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, March 13th. Tamarack Valley Energy's dividend payout ratio (DPR) is -220.24%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.