Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week Low - Here's What Happened

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report)'s share price hit a new 52-week low on Monday . The company traded as low as C$3.23 and last traded at C$3.46, with a volume of 731714 shares changing hands. The stock had previously closed at C$3.65.

Analyst Ratings Changes

TVE has been the topic of a number of research analyst reports. Desjardins downgraded Tamarack Valley Energy from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. CIBC lowered their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday. National Bankshares reduced their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Finally, BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Tamarack Valley Energy has a consensus rating of "Moderate Buy" and an average price target of C$5.69.

Tamarack Valley Energy Stock Up 1.4 %

The firm has a market cap of C$1.89 billion, a PE ratio of 9.17 and a beta of 2.49. The business's 50-day simple moving average is C$4.20 and its 200 day simple moving average is C$4.32. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, February 28th. Tamarack Valley Energy's payout ratio is currently 38.41%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of the business's stock in a transaction on Monday, March 3rd. The stock was bought at an average price of C$4.55 per share, for a total transaction of C$385,539.70. Also, Senior Officer Kevin James Johnston acquired 15,000 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of C$3.29 per share, for a total transaction of C$49,350.00. Insiders have acquired 139,784 shares of company stock valued at $598,425 in the last ninety days. Corporate 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.