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

Key Points

• Tamarack Valley Energy (TSE:TVE) reached a new 52-week high of C$6.22 during trading, reflecting increased investor interest as well as solid volume with 169,499 shares traded.
• Analysts have raised their price targets for Tamarack Valley Energy, with Royal Bank of Canada leading the way, setting a target of C$7.00, suggesting a consensus view of a "Moderate Buy".
• The company announced a dividend payout of $0.0128, which will be distributed on October 15th to shareholders of record by September 30th, reflecting a dividend payout ratio of 31.67%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$6.22 and last traded at C$6.19, with a volume of 169499 shares trading hands. The stock had previously closed at C$6.12.

Analysts Set New Price Targets

TVE has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. ATB Capital raised their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. CIBC raised their price target on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Raymond James Financial raised their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Desjardins lifted their target price on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a "hold" rating in a research report on Friday, September 19th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Tamarack Valley Energy presently has an average rating of "Moderate Buy" and an average price target of C$6.58.

Tamarack Valley Energy Stock Performance

The company has a market capitalization of C$3.08 billion, a P/E ratio of 12.90 and a beta of 1.10. 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 stock's 50 day simple moving average is C$5.58 and its two-hundred day simple moving average is C$4.80.

Tamarack Valley Energy Announces Dividend

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