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

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$4.98 and last traded at C$4.98, with a volume of 250923 shares changing hands. The stock had previously closed at C$4.87.

Analyst Ratings Changes

Several research analysts recently commented on TVE shares. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. CIBC boosted their price target on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. Royal Bank of Canada upped their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their price target on Tamarack Valley Energy from C$5.50 to C$6.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$5.48.

Tamarack Valley Energy Trading Up 1.2 %

The business has a 50 day moving average of C$4.45 and a two-hundred day moving average of C$4.09. The firm has a market cap of C$2.68 billion, a P/E ratio of 21.39 and a beta of 2.49. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, December 30th. Tamarack Valley Energy’s payout ratio is presently 65.22%.

Insider Buying and Selling

In other news, Director Marnie Smith sold 9,668 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is currently owned by insiders.

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.