Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a research note on Friday, December 13th. National Bankshares dropped their price target on shares of 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. Acumen Capital increased their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$5.48.

Tamarack Valley Energy Stock Performance

The stock has a fifty day simple moving average of C$4.45 and a two-hundred day simple moving average of C$4.09. 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 stock has a market cap of C$2.68 billion, a price-to-earnings ratio of 21.39 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The firm also recently announced 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. This represents a $0.15 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, December 30th. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of the firm’s 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 value of C$42,732.56. Insiders own 1.32% of the company’s stock.

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.