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

Key Points

• Tamarack Valley Energy reached a new 52-week high of C$5.28 during trading, with a volume of over 2.12 million shares.
• The company announced a monthly dividend of $0.0127 per share, equating to a 2.89% dividend yield.
• Analysts have mixed ratings, with one hold, six buy ratings, and a consensus target price of C$5.91.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$5.28 and last traded at C$5.28, with a volume of 2126348 shares trading hands. The stock had previously closed at C$5.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TVE. Royal Bank Of Canada boosted their price target 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. Raymond James Financial boosted 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 note on Thursday. Desjardins boosted their price target 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. ATB Capital boosted 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 note on Thursday. Finally, CIBC boosted 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$6.33.

Tamarack Valley Energy Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The company has a market cap of C$2.81 billion, a PE ratio of 13.65 and a beta of 2.49. The stock's 50 day simple moving average is C$4.87 and its two-hundred day simple moving average is C$4.42.

Tamarack Valley Energy Announces Dividend

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

Insiders Place Their Bets

In other news, Director Rene Amirault purchased 85,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of C$4.12 per share, with a total value of C$352,260.00. Insiders own 1.32% of the company's stock.

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.