Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High – Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$4.59 and last traded at C$4.57, with a volume of 3056868 shares changing hands. The stock had previously closed at C$4.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on TVE shares. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. National Bankshares lifted their price objective on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC raised their target price 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. Royal Bank of Canada increased their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$5.23.

Tamarack Valley Energy Stock Performance

The company has a market capitalization of C$2.51 billion, a PE ratio of 20.04 and a beta of 2.49. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The business has a 50 day simple moving average of C$4.14 and a 200 day simple moving average of C$3.91.

Tamarack Valley Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s payout ratio is currently 65.22%.

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.