Tamarack Valley Energy (TSE:TVE) Sets New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TVE shares. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target 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. CIBC upped their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Friday, November 1st. National Bankshares decreased their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Up 1.6 %

The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The firm has a market cap of C$2.69 billion, a PE ratio of 21.52 and a beta of 2.49. The business’s 50-day simple moving average is C$4.41 and its 200 day simple moving average is C$4.08.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.0127 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.15 dividend on an annualized basis and a yield of 3.08%. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Marnie Smith sold 9,668 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. Insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Company Profile

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.