Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High - What's Next?

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$5.05 and last traded at C$5.04, with a volume of 962340 shares. The stock had previously closed at C$4.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Raymond James Financial raised shares of Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and upped their price target for the stock from C$4.50 to C$5.00 in a research note on Thursday, May 8th. Desjardins cut Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, CIBC reduced their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.72.

Tamarack Valley Energy Stock Performance

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 has a market capitalization of C$2.66 billion, a PE ratio of 12.90 and a beta of 2.49. The firm has a fifty day moving average price of C$4.16 and a 200 day moving average price of C$4.32.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were given a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy's payout ratio is 38.41%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Robert Spitzer acquired 31,985 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of C$4.19 per share, for a total transaction of C$134,017.15. Also, Senior Officer Steven Buytels acquired 8,065 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of C$3.66 per share, with a total value of C$29,517.90. Insiders have bought a total of 224,150 shares of company stock valued at $867,309 in the last three months. 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.