Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High - Here's What Happened

Key Points

• Tamarack Valley Energy Ltd shares hit a new 52-week high of C$6.20, closing at C$6.16 with over 1 million shares traded.
• Analysts have raised price targets for Tamarack, with expectations ranging from C$6.25 to C$7.50, and a consensus rating of "Moderate Buy".
• The company announced a dividend of $0.0128 per share, payable on October 15th to stockholders recorded by September 30th.

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as C$6.20 and last traded at C$6.16, with a volume of 1095061 shares traded. The stock had previously closed at C$6.10.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Desjardins lifted their price objective on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a "hold" rating in a report on Friday, September 19th. ATB Capital raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday, July 31st. National Bankshares boosted their price target on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Raymond James Financial raised their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, CIBC upped their target price on Tamarack Valley Energy from C$6.25 to C$7.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Tamarack Valley Energy presently has an average rating of "Moderate Buy" and a consensus price target of C$6.58.

Tamarack Valley Energy Stock Performance

The stock's 50 day moving average is C$5.46 and its 200 day moving average is C$4.71. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The firm has a market cap of C$3.06 billion, a price-to-earnings ratio of 12.79 and a beta of 1.12.

Tamarack Valley Energy Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.0128 per share. Tamarack Valley Energy's payout ratio is 31.67%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.