Loading...

Tamarack Valley Energy

TSX:TVE
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TVE
TSX
CA$543M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

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. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • Tamarack Valley Energy has significant price volatility in the past 3 months.
TVE Share Price and Events
7 Day Returns
1.7%
TSX:TVE
-0.1%
CA Oil and Gas
-0.2%
CA Market
1 Year Returns
-42.7%
TSX:TVE
-11.8%
CA Oil and Gas
-1.9%
CA Market
TVE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tamarack Valley Energy (TVE) 1.7% -16.1% -4.4% -42.7% -39.5% -57.1%
CA Oil and Gas -0.1% -3.1% 1.5% -11.8% -6.5% -34.6%
CA Market -0.2% -1.6% 2.1% -1.9% 13.3% 4.3%
1 Year Return vs Industry and Market
  • TVE underperformed the Oil and Gas industry which returned -11.8% over the past year.
  • TVE underperformed the Market in Canada which returned -1.9% over the past year.
Price Volatility
TVE
Industry
5yr Volatility vs Market

TVE Value

 Is Tamarack Valley Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tamarack Valley Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tamarack Valley Energy.

TSX:TVE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:TVE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.978 (1 + (1- 26.5%) (37.39%))
1.165
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.17
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.165 * 5.96%)
8.89%

Discounted Cash Flow Calculation for TSX:TVE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tamarack Valley Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:TVE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.89%)
2019 62.33 Analyst x3 57.24
2020 49.50 Analyst x2 41.75
2021 60.00 Analyst x2 46.47
2022 56.00 Analyst x1 39.83
2023 55.74 Est @ -0.46% 36.41
2024 55.89 Est @ 0.26% 33.52
2025 56.31 Est @ 0.77% 31.02
2026 56.94 Est @ 1.12% 28.81
2027 57.72 Est @ 1.37% 26.82
2028 58.61 Est @ 1.54% 25.01
Present value of next 10 years cash flows CA$366.86
TSX:TVE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$58.61 × (1 + 1.95%) ÷ (8.89% – 1.95%)
CA$860.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$860.41 ÷ (1 + 8.89%)10
CA$367.07
TSX:TVE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$366.86 + CA$367.07
CA$733.93
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$733.93 / 226.39
CA$3.24
TSX:TVE Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$3.24
Current discount Discount to share price of CA$2.40
= -1 x (CA$2.40 - CA$3.24) / CA$3.24
26%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tamarack Valley Energy is available for.
Intrinsic value
26%
Share price is CA$2.4 vs Future cash flow value of CA$3.24
Current Discount Checks
For Tamarack Valley Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tamarack Valley Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tamarack Valley Energy's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tamarack Valley Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tamarack Valley Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:TVE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.13
TSX:TVE Share Price ** TSX (2019-05-17) in CAD CA$2.4
Canada Oil and Gas Industry PE Ratio Median Figure of 58 Publicly-Listed Oil and Gas Companies 14.34x
Canada Market PE Ratio Median Figure of 545 Publicly-Listed Companies 14.85x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tamarack Valley Energy.

TSX:TVE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:TVE Share Price ÷ EPS (both in CAD)

= 2.4 ÷ 0.13

18.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tamarack Valley Energy is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • Tamarack Valley Energy is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Tamarack Valley Energy's expected growth come at a high price?
Raw Data
TSX:TVE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
26.1%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 37 Publicly-Listed Oil and Gas Companies 0.79x
Canada Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

TSX:TVE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.06x ÷ 26.1%

0.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tamarack Valley Energy is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tamarack Valley Energy's assets?
Raw Data
TSX:TVE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$3.57
TSX:TVE Share Price * TSX (2019-05-17) in CAD CA$2.4
Canada Oil and Gas Industry PB Ratio Median Figure of 224 Publicly-Listed Oil and Gas Companies 0.88x
Canada Market PB Ratio Median Figure of 2,407 Publicly-Listed Companies 1.41x
TSX:TVE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:TVE Share Price ÷ Book Value per Share (both in CAD)

= 2.4 ÷ 3.57

0.67x

* Primary Listing of Tamarack Valley Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tamarack Valley Energy is good value based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Tamarack Valley Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Tamarack Valley Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TVE Future Performance

 How is Tamarack Valley Energy expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
26.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tamarack Valley Energy expected to grow at an attractive rate?
  • Tamarack Valley Energy's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Tamarack Valley Energy's earnings growth is expected to exceed the Canada market average.
  • Tamarack Valley Energy's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:TVE Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:TVE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 26.1%
TSX:TVE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 11.5%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 8.5%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:TVE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:TVE Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 381
2021-12-31 527 335 1
2020-12-31 438 273 46 7
2019-12-31 403 242 31 7
TSX:TVE Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 357 224 30
2018-12-31 360 237 38
2018-09-30 373 238 7
2018-06-30 323 210 -13
2018-03-31 287 180 -13
2017-12-31 256 145 -14
2017-09-30 210 112 -10
2017-06-30 182 91 -6
2017-03-31 145 71 -20
2016-12-31 107 61 -28
2016-09-30 96 67 -14
2016-06-30 91 64 -26

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tamarack Valley Energy's earnings are expected to grow significantly at over 20% yearly.
  • Tamarack Valley Energy's revenue is expected to grow by 11.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:TVE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Tamarack Valley Energy Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TVE Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.28 0.28 0.28 1.00
2020-12-31 0.22 0.31 0.10 6.00
2019-12-31 0.15 0.15 0.14 5.00
TSX:TVE Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.13
2018-12-31 0.17
2018-09-30 0.03
2018-06-30 -0.06
2018-03-31 -0.06
2017-12-31 -0.06
2017-09-30 -0.05
2017-06-30 -0.04
2017-03-31 -0.13
2016-12-31 -0.23
2016-09-30 -0.13
2016-06-30 -0.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Tamarack Valley Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tamarack Valley Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tamarack Valley Energy has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TVE Past Performance

  How has Tamarack Valley Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tamarack Valley Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tamarack Valley Energy's year on year earnings growth rate has been positive over the past 5 years.
  • Tamarack Valley Energy has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Tamarack Valley Energy has become profitable in the last year making it difficult to compare the CA Oil and Gas industry average.
Earnings and Revenue History
Tamarack Valley Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tamarack Valley Energy Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TVE Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 356.93 30.19 21.65
2018-12-31 359.56 38.31 22.26
2018-09-30 372.96 6.83 20.57
2018-06-30 323.17 -12.91 18.39
2018-03-31 287.17 -12.92 17.71
2017-12-31 255.61 -13.92 16.82
2017-09-30 209.59 -9.82 15.09
2017-06-30 181.51 -6.28 13.68
2017-03-31 145.46 -19.70 12.20
2016-12-31 106.72 -27.82 10.92
2016-09-30 95.84 -14.28 10.52
2016-06-30 91.20 -26.15 10.25
2016-03-31 90.86 -17.92 10.09
2015-12-31 95.58 -17.33 10.18
2015-09-30 99.88 -61.44 10.62
2015-06-30 105.78 -39.58 10.83
2015-03-31 110.77 -32.20 10.41
2014-12-31 109.75 -25.17 9.46
2014-09-30 100.80 24.68 8.50
2014-06-30 87.12 21.61 7.01
2014-03-31 72.95 16.31 6.23
2013-12-31 62.88 14.81 5.54
2013-09-30 52.78 1.50 4.85
2013-06-30 45.76 -2.77 4.67
2013-03-31 39.28 -2.15 4.39
2012-12-31 31.73 -4.14 4.19
2012-09-30 26.63 -4.13 4.07
2012-06-30 21.50 -3.71 4.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tamarack Valley Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tamarack Valley Energy used its assets less efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Tamarack Valley Energy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tamarack Valley Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tamarack Valley Energy has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TVE Health

 How is Tamarack Valley Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tamarack Valley Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tamarack Valley Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Tamarack Valley Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Tamarack Valley Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tamarack Valley Energy Company Filings, last reported 1 month ago.

TSX:TVE Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 808.66 203.15
2018-12-31 812.57 161.50
2018-09-30 793.15 168.97
2018-06-30 776.93 156.97
2018-03-31 779.56 165.75
2017-12-31 773.86 163.89
2017-09-30 783.16 162.16
2017-06-30 788.36 140.80
2017-03-31 783.69 135.48
2016-12-31 469.74 45.23
2016-09-30 475.26 48.60
2016-06-30 399.63 48.63
2016-03-31 408.78 50.06
2015-12-31 371.18 82.82
2015-09-30 364.98 94.42
2015-06-30 379.02 88.50 3.43
2015-03-31 300.32 112.95
2014-12-31 304.41 100.20 0.83
2014-09-30 342.09 100.27
2014-06-30 214.74 43.73
2014-03-31 207.81 17.49
2013-12-31 148.02 71.80
2013-09-30 89.49 50.88
2013-06-30 85.50 45.78
2013-03-31 85.14 43.53
2012-12-31 84.44 43.22
2012-09-30 86.77 37.97
2012-06-30 86.93 35.14
  • Tamarack Valley Energy's level of debt (25.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (8.6% vs 25.1% today).
  • Debt is well covered by operating cash flow (110.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.5x coverage).
X
Financial health checks
We assess Tamarack Valley Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tamarack Valley Energy has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TVE Dividends

 What is Tamarack Valley Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Tamarack Valley Energy dividends. Estimated to be 0% next year.
If you bought CA$2,000 of Tamarack Valley Energy shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Tamarack Valley Energy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tamarack Valley Energy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:TVE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 36 Stocks 4.4%
Canada Market Average Dividend Yield Market Cap Weighted Average of 332 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:TVE Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Tamarack Valley Energy has not reported any payouts.
  • Unable to verify if Tamarack Valley Energy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tamarack Valley Energy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tamarack Valley Energy has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Tamarack Valley Energy's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Tamarack Valley Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tamarack Valley Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tamarack Valley Energy has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TVE Management

 What is the CEO of Tamarack Valley Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brian Schmidt
COMPENSATION CA$2,485,385
AGE 60
TENURE AS CEO 8.9 years
CEO Bio

Mr. Brian Leslie Schmidt has been the Chief Executive Officer and President of Tamarack Valley Energy Ltd since June 2010. Mr. Schmidt serves as the Chief Executive Officer of Spearpoint Energy Corporation, LLC from June 2008 to July 2009. He is the Founder of Spearpoint Energy Corp. He served as a Regional Vice President in Canada Operations of Apache Corp. since June 2004 and President of Apache Canada Limited May 2004 to June 2007. He began his career at Shell Canada. Mr. Schmidt joined Apache Corp. in December 1999 as Production Engineering Manager following Apache's acquisition of Shell Canada's Plains Business Unit. Since 2000, he served as Reservoir Engineering Manager of Apache Corp. and also served as its Vice President of Engineering since 2001. He joined Shell Canada Ltd. and held various operations and development assignments until his 1997 promotion to development manager of the Plains Business Unit. He has been a Director of Tamarack Valley Energy Ltd since June 17, 2010. He is a member of the Board of Governors of the Canadian Association of Petroleum Producers and is the Alberta Executive Policy Group Chairman. He is a director of Aspenleaf Energy Limited, a private company and is an advisor to the Indian Oil & Gas Co-Management Board. He was President, Chief Executive Officer and a director of privately-held Tamarack Valley Energy Ltd., a predecessor entity to the Tamarack Valley Energy, from August 2009 to June 2010. Mr. Schmidt served as a Director at Avant Garde Energy Corp. from November 2007 to June 2009 and TUSK Energy Corporation from June 2007 to April 2009. He served as a Director at Polar Star Canadian Oil and Gas, Inc. since August 9, 2007. Mr. Schmidt graduated from the University of Calgary in 1981 with a Bachelor's Degree in Mechanical Engineering.

CEO Compensation
  • Brian's compensation has increased in line with Tamarack Valley Energy recently becoming profitable.
  • Brian's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Tamarack Valley Energy management team in years:

8.5
Average Tenure
  • The average tenure for the Tamarack Valley Energy management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Brian Schmidt

TITLE
President
COMPENSATION
CA$2M
AGE
60
TENURE
8.9 yrs

Ron Hozjan

TITLE
VP of Finance & CFO
COMPENSATION
CA$2M
TENURE
8.9 yrs

Kevin Screen

TITLE
Vice President of Production & Operations
COMPENSATION
CA$2M
TENURE
7.7 yrs

Scott Reimond

TITLE
Vice President of Exploration
COMPENSATION
CA$1M
TENURE
8.6 yrs

Ken Cruikshank

TITLE
Vice President of Land
COMPENSATION
CA$1M
TENURE
8.9 yrs

Dave Christensen

TITLE
Vice President of Engineering
COMPENSATION
CA$2M
TENURE
5.1 yrs

June-Marie Innes

TITLE
Treasurer
TENURE
1.4 yrs

Derek Blizzard

TITLE
Controller
TENURE
8.5 yrs

Sony Gill

TITLE
Corporate Secretary
AGE
42
Board of Directors Tenure

Average tenure and age of the Tamarack Valley Energy board of directors in years:

3.4
Average Tenure
64.5
Average Age
  • The tenure for the Tamarack Valley Energy board of directors is about average.
Board of Directors

Floyd Price

TITLE
Chairman
COMPENSATION
CA$178K
AGE
69

Brian Schmidt

TITLE
President
COMPENSATION
CA$2M
AGE
60
TENURE
8.9 yrs

David MacKenzie

TITLE
Director
COMPENSATION
CA$136K
TENURE
8.9 yrs

Noralee Bradley

TITLE
Independent Director
COMPENSATION
CA$136K
TENURE
3.4 yrs

John Leach

TITLE
Independent Director
COMPENSATION
CA$136K
AGE
73
TENURE
2.3 yrs

Jeffrey Boyce

TITLE
Independent Director
COMPENSATION
CA$136K
AGE
58
TENURE
5.6 yrs

Ian Currie

TITLE
Director
COMPENSATION
CA$130K
TENURE
2.2 yrs

Robert Spitzer

TITLE
Director
COMPENSATION
CA$130K
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • Tamarack Valley Energy insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
22. Apr 19 Sell Ken Cruikshank Individual 15. Apr 19 15. Apr 19 -160,000 CA$2.84 CA$-454,240
19. Mar 19 Buy Thomas Claugus Individual 19. Mar 19 19. Mar 19 400 CA$2.46 CA$985
19. Mar 19 Buy GMT Capital Corp. Company 19. Mar 19 19. Mar 19 7,600 CA$2.46 CA$18,707
07. Feb 19 Buy Noralee Bradley Individual 05. Feb 19 06. Feb 19 27,500 CA$2.22 CA$60,756
28. Dec 18 Sell David Christensen Individual 21. Dec 18 21. Dec 18 -18,121 CA$2.10 CA$-38,054
28. Dec 18 Sell Ron Hozjan Individual 24. Dec 18 24. Dec 18 -15,000 CA$2.06 CA$-30,855
28. Dec 18 Buy Ron Hozjan Individual 24. Dec 18 24. Dec 18 15,000 CA$2.06 CA$30,900
22. Dec 18 Sell David Christensen Individual 20. Dec 18 20. Dec 18 -38,372 CA$2.04 CA$-78,279
22. Dec 18 Buy David Christensen Individual 20. Dec 18 20. Dec 18 30,208 CA$2.06 CA$62,228
22. Dec 18 Buy Robert Spitzer Individual 21. Dec 18 21. Dec 18 47,600 CA$2.06 CA$98,056
18. Nov 18 Buy Brian Schmidt Individual 15. Nov 18 15. Nov 18 3,925 CA$2.55 CA$10,009
28. Sep 18 Sell Ron Hozjan Individual 21. Jun 18 22. Jun 18 -10,000 CA$4.38 CA$-42,587
05. Sep 18 Buy Floyd Price Individual 04. Sep 18 04. Sep 18 5,000 CA$4.84 CA$24,181
09. Jul 18 Sell Kevin Screen Individual 03. Jul 18 03. Jul 18 -15,000 CA$4.70 CA$-70,500
X
Management checks
We assess Tamarack Valley Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tamarack Valley Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TVE News

Simply Wall St News

Is Tamarack Valley Energy Ltd's (TSE:TVE) Growth Strong Enough To Justify Its May Share Price?

Tamarack Valley Energy is available at price-to-earnings ratio of 18.21x, showing us it is overvalued based on current earnings compared to the Oil and Gas industry average of 14.34x , and overvalued compared to the CA market average ratio of 14.85x. … However, seeing as Tamarack Valley Energy is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … This tells us that when we include its growth in our analysis Tamarack Valley Energy's stock can be considered relatively cheap , based on its fundamentals.

Simply Wall St -

Is Tamarack Valley Energy Ltd's (TSE:TVE) CEO Pay Fair?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Brian Schmidt's Compensation Compare With Similar Sized Companies. … Our data indicates that Tamarack Valley Energy Ltd is worth CA$688m, and total annual CEO compensation is CA$1.4m.

Simply Wall St -

Could Tamarack Valley Energy Ltd's (TSE:TVE) Investor Composition Influence The Stock Price?

The big shareholder groups in Tamarack Valley Energy Ltd (TSE:TVE) have power over the company. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Tamarack Valley Energy is not a large company by global standards.

Simply Wall St -

How Do Analysts See Tamarack Valley Energy Ltd (TSE:TVE) Performing Over The Next Few Years?

The latest earnings release Tamarack Valley Energy Ltd's (TSE:TVE) announced in December 2018 … finally turned profitable

Simply Wall St -

Shareholders Should Look Hard At Tamarack Valley Energy Ltd’s (TSE:TVE) 1.7% Return On Capital

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … The formula for calculating the return on capital employed is:

Simply Wall St -

Is Tamarack Valley Energy Ltd's (TSE:TVE) CEO Being Overpaid?

In 2010 Brian Schmidt was appointed CEO of Tamarack Valley Energy Ltd (TSE:TVE). … How Does Brian Schmidt's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Tamarack Valley Energy Ltd has a market cap of CA$517m, and is paying total annual CEO compensation of CA$1.4m.

Simply Wall St -

What Kind Of Investor Owns Most Of Tamarack Valley Energy Ltd (TSE:TVE)?

The big shareholder groups in Tamarack Valley Energy Ltd (TSE:TVE) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Tamarack Valley Energy is not a large company by global standards.

Simply Wall St -

Is Tamarack Valley Energy Ltd's (TSE:TVE) CEO Salary Justified?

Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … Incentives can be in the form of compensation, which should always be structured in a way that promotes value-creation to shareholders. … CEOs leading companies of similar size and profitability

Simply Wall St -

Why You Should Be Bullish On Tamarack Valley Energy Ltd (TSE:TVE)

Tamarack Valley Energy Ltd (TSX:TVE)'s outlook is one of buoyant sentiment as it continues to post exciting top-line revenue growth. … I will touched on some key aspects you should know on a high level, around its financials and growth prospects going forward. … TSX:TVE Historical Debt Apr 26th 18 Investors tend to get swept up by a company's growth prospects and promises, but a key element to always look at is its financial health in order to minimize the downside risk of investing.

Simply Wall St -

TSX Energy Industry: A Deep Dive Into Tamarack Valley Energy Ltd (TSX:TVE)

Not surprisingly, this rate is more than double the growth rate of the Canadian stock market as a whole. … TSX:TVE Past Future Earnings Nov 18th 17 Over the past couple of years, the energy sector delivered a disappointing 40% negative growth rate, driven by the oil price collapse. … TSX:TVE PE PEG Gauge Nov 18th 17 The energy sector's PE is currently hovering around 23x, higher than the rest of the Canadian stock market PE of 17x.

Simply Wall St -

TVE Company Info

Description

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 in Alberta, as well as in the Veteran, Consort, and Esther area of southeast Alberta and North Hoosier, Milton, and Coleville area of southwest Saskatchewan; Barons Sand light oil plays located in the Penny area of Southern Alberta; and heavy oil properties. The company was formerly known as Tango Energy Inc. and changed its name to Tamarack Valley Energy Ltd. in June 2010. Tamarack Valley Energy Ltd. was incorporated in 2002 and is headquartered in Calgary, Canada.

Details
Name: Tamarack Valley Energy Ltd
TVE
Exchange: TSX
Founded: 2002
CA$543,341,426
226,392,261
Website: http://www.tamarackvalley.ca
Address: Tamarack Valley Energy Ltd
East Tower,
Suite 600,
Calgary,
Alberta, T2P 3L8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TVE Common Shares The Toronto Stock Exchange CA CAD 13. Jun 2002
OTCPK TNEY.F Common Shares Pink Sheets LLC US USD 13. Jun 2002
DB 9TA1 Common Shares Deutsche Boerse AG DE EUR 13. Jun 2002
Number of employees
Current staff
Staff numbers
44
Tamarack Valley Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 01:42
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.