Tamarack Valley Energy (TSE:TVE) Hits New 12-Month High – What’s Next?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high on Thursday . The stock traded as high as C$14.00 and last traded at C$13.98, with a volume of 728538 shares traded. The stock had previously closed at C$13.57.

Wall Street Analysts Forecast Growth

TVE has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Desjardins lifted their price target on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Canaccord Genuity Group upgraded Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. ATB Cormark Capital Markets increased their price objective 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. Finally, Roth Mkm set a C$15.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$12.73.

Tamarack Valley Energy Price Performance

The firm has a market capitalization of C$6.69 billion, a PE ratio of -77.78 and a beta of 0.28. The company has a debt-to-equity ratio of 37.62, a current ratio of 0.69 and a quick ratio of 0.80. The business’s 50 day moving average is C$12.02 and its two-hundred day moving average is C$9.93.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The firm 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 year.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) 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.