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

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) hit a new 52-week high on Wednesday . The stock traded as high as C$5.58 and last traded at C$5.58, with a volume of 598532 shares changing hands. The stock had previously closed at C$5.47.

Analyst Ratings Changes

TVE has been the topic of several research reports. Raymond James Financial upped their price objective on shares of 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. Desjardins upped their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. CIBC upped their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.25 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, ATB Capital upped 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 report 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Stock 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 stock has a market cap of C$2.78 billion, a PE ratio of 11.65 and a beta of 1.12. The company's 50 day simple moving average is C$5.24 and its 200 day simple moving average is C$4.57.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be paid a $0.0127 dividend. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a yield of 2.7%. Tamarack Valley Energy's dividend payout ratio (DPR) is 31.67%.

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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