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

Key Points

• Tamarack Valley Energy reached a new 52-week high of C$5.55 during trading, with the last trade at C$5.54 and a volume of 508,917 shares.
• Multiple analysts have upgraded their price targets for the stock, with Royal Bank of Canada setting the highest at C$7.00 and most analysts rating it as a "Moderate Buy."
• The company has declared an annualized dividend yield of 2.8%, with a monthly dividend payment of $0.0127 scheduled for August 15th.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$5.55 and last traded at C$5.54, with a volume of 508917 shares trading hands. The stock had previously closed at C$5.40.

Wall Street Analyst Weigh In

TVE has been the topic of several analyst reports. CIBC increased their price objective on Tamarack Valley Energy from C$5.50 to C$6.25 and gave the company an "outperform" rating in a research note on Thursday, July 31st. ATB Capital increased their price objective on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Desjardins raised their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price target on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$6.33.

Tamarack Valley Energy Price Performance

The stock has a 50-day moving average price of C$4.98 and a 200 day moving average price of C$4.44. 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 firm has a market cap of C$2.82 billion, a price-to-earnings ratio of 13.67 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.0127 per share. The ex-dividend date is Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. Tamarack Valley Energy's payout ratio is 38.41%.

Insider Activity at Tamarack Valley Energy

In other news, Director Rene Amirault bought 85,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of C$4.12 per share, for a total transaction of C$352,260.00. Company insiders own 1.32% of the company's stock.

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.