Tamarack Valley Energy (TSE:TVE) Reaches New 12-Month High - Still a Buy?

Key Points

• Tamarack Valley Energy hit a new 52-week high, trading as high as C$13.16 and last at C$12.82 on a volume of 3,035,776 shares.
• Analysts are generally bullish—six Buy and two Hold ratings give a consensus of Moderate Buy with an average price target of C$10.44, and several firms recently raised targets into the C$11–C$12 range.
• Company fundamentals are mixed: market cap C$6.21B, a negative PE of −183.14, recent quarterly EPS of C$0.10, and a 1.2% annualized dividend with a −220% payout ratio, signaling limited profitability despite shareholder payouts.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as C$13.16 and last traded at C$12.82, with a volume of 3035776 shares. The stock had previously closed at C$12.39.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. ATB Cormark Capital Markets upped their price objective on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. National Bank Financial boosted their price target on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an "outperform" rating in a report on Thursday, February 26th. Acumen Capital upped their price target on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a "buy" rating in a research report on Thursday, February 26th. Finally, Desjardins lifted 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 research report on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$10.44.

Tamarack Valley Energy Stock Performance

The firm has a 50 day moving average of C$10.88 and a 200-day moving average of C$8.84. The stock has a market capitalization of C$6.21 billion, a PE ratio of -183.14 and a beta of 0.34. The company has a debt-to-equity ratio of 37.29, a quick ratio of 0.80 and a current ratio of 0.90.

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

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy's dividend payout ratio is currently -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.

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