Tamarack Valley Energy (TSE:TVE) Hits New 1-Year High - Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares hit a new 52-week high on Wednesday . The stock 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.

Analysts Set New Price Targets

Several 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 raised their price target for the stock from C$4.50 to C$5.00 in a research note on Thursday, May 8th. CIBC decreased their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research note on Thursday, April 10th. Finally, Desjardins cut shares of Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.72.

Tamarack Valley Energy Stock Down 0.2%

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 moving average is C$4.22 and its two-hundred day moving average is C$4.33. The firm has a market capitalization of C$2.66 billion, a P/E ratio of 12.88 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy's dividend payout ratio is 38.41%.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Robert Spitzer purchased 31,985 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price of C$4.19 per share, with a total value of C$134,017.15. Also, Senior Officer Kevin James Johnston purchased 15,000 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of C$3.29 per share, with a total value of C$49,350.00. Insiders acquired 224,150 shares of company stock valued at $867,309 in the last quarter. 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.