Tamarack Valley Energy (TSE:TVE) Stock Price Up 7% – Time to Buy?

Shares of Tamarack Valley Energy Ltd (TSE:TVE) shot up 7% on Thursday . The company traded as high as C$11.51 and last traded at C$11.49. 298,394 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,225,239 shares. The stock had previously closed at C$10.74.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TVE shares. Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Cormark Capital Markets raised their target price on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Desjardins lifted their target price 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. National Bank Financial upped 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. Finally, Acumen Capital increased 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. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 37.29. The firm has a market cap of C$5.42 billion, a price-to-earnings ratio of -159.86 and a beta of 0.70. The business has a 50 day moving average of C$10.19 and a 200 day moving average of C$8.17.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 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%. On average, research analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy’s 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.