Tamarack Valley Energy (TSE:TVE) Hits New 1-Year Low – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$3.23 and last traded at C$3.46, with a volume of 731714 shares trading hands. The stock had previously closed at C$3.65.

Wall Street Analyst Weigh In

Several research firms have recently commented on TVE. BMO Capital Markets lifted their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. National Bankshares dropped their price objective on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. CIBC lifted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. Finally, Desjardins cut shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Tamarack Valley Energy has an average rating of “Moderate Buy” and a consensus target price of C$5.81.

Tamarack Valley Energy Price Performance

The company has a market cap of C$1.90 billion, a PE ratio of 9.19 and a beta of 2.49. The firm’s 50-day moving average is C$4.33 and its 200-day moving average is C$4.35. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s dividend payout ratio is currently 38.41%.

Insider Activity

In related news, Director Robert Spitzer purchased 31,985 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of C$4.19 per share, for a total transaction of C$134,017.15. Also, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of Tamarack Valley Energy stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of C$4.55 per share, with a total value of C$385,539.70. 1.32% of the stock is currently owned by company insiders.

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.