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

Key Points

• Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high at C$5.58 with a trading volume of 598,532 shares.
• Multiple analysts have raised their price targets for TVE, with Royal Bank of Canada increasing their target to C$7.00 and most ratings indicating a consensus of "Moderate Buy."
• The company has announced a monthly dividend of $0.0127, representing an annual yield of 2.7% with a payout ratio of 31.67%.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as C$5.58 and last traded at C$5.58, with a volume of 598532 shares traded. The stock had previously closed at C$5.47.

Wall Street Analyst Weigh In

TVE has been the subject of a number of recent research reports. CIBC increased their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. ATB Capital raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Desjardins raised their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$6.33.

Tamarack Valley Energy Price Performance

The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company's fifty day simple moving average is C$5.29 and its two-hundred day simple moving average is C$4.60. The stock has a market capitalization of C$2.85 billion, a PE ratio of 11.92 and a beta of 1.12.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.0128 per share. Tamarack Valley Energy's dividend payout ratio (DPR) is currently 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.