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

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week high during trading on Wednesday . The company traded as high as C$4.64 and last traded at C$4.61, with a volume of 334769 shares changing hands. The stock had previously closed at C$4.48.

Analyst Upgrades and Downgrades

TVE has been the subject of a number of research reports. National Bankshares increased their target price on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Acumen Capital increased their target price on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC increased their target price 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. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$5.23.

Tamarack Valley Energy Stock Up 2.0 %

The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The company has a fifty day moving average of C$4.20 and a two-hundred day moving average of C$3.94. The company has a market cap of C$2.49 billion, a PE ratio of 20.04 and a beta of 2.49.

Tamarack Valley Energy Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a $0.0127 dividend. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.33%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 65.22%.

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.