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 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.

Wall Street Analysts Forecast Growth

TVE has been the topic of several research reports. National Bankshares cut their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Canaccord Genuity Group increased their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. CIBC lifted their target price on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on Tamarack Valley Energy from C$5.50 to C$6.00 in a research report on Friday, December 13th. Finally, Royal Bank of Canada raised their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Performance

The firm’s fifty day moving average price is C$4.41 and its two-hundred day moving average price is C$4.08. The stock has a market capitalization of C$2.69 billion, a PE ratio of 21.52 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 company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a $0.0127 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.08%. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 65.22%.

Insider Transactions at Tamarack Valley Energy

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. Corporate 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.