Tamarack Valley Energy (TSE:TVE) Stock Price Up 5.5% – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE) shares rose 5.5% during mid-day trading on Thursday . The stock traded as high as C$12.84 and last traded at C$12.74. Approximately 251,701 shares traded hands during trading, a decline of 88% from the average daily volume of 2,168,199 shares. The stock had previously closed at C$12.08.

Analyst Upgrades and Downgrades

TVE has been the topic of several analyst reports. ATB Cormark Capital Markets upped their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Royal Bank Of Canada upped their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Acumen Capital upped their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Desjardins upped their target price on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$12.73.

Tamarack Valley Energy Stock Performance

The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69. The stock’s fifty day moving average price is C$11.90 and its 200-day moving average price is C$9.77. The company has a market capitalization of C$6.10 billion, a P/E ratio of -70.89 and a beta of 0.46.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. The company had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. As a group, research analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Tamarack Valley Energy’s dividend payout ratio is currently -86.62%.

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.