DB:9TA1

Stock Analysis Report

Tamarack Valley Energy

Executive Summary

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.


Snowflake Analysis

Solid track record and good value.

Share Price & News

How has Tamarack Valley Energy's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 9TA1 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.0%

9TA1

6.0%

DE Oil and Gas

-0.3%

DE Market


1 Year Return

-2.3%

9TA1

89.1%

DE Oil and Gas

14.0%

DE Market

Return vs Industry: 9TA1 underperformed the German Oil and Gas industry which returned 48.3% over the past year.

Return vs Market: 9TA1 underperformed the German Market which returned 17.1% over the past year.


Shareholder returns

9TA1IndustryMarket
7 Day-3.0%6.0%-0.3%
30 Day-2.3%2.0%0.5%
90 Day11.1%40.5%4.5%
1 Year-2.3%-2.3%95.5%89.1%17.6%14.0%
3 Year-45.6%-45.6%36.1%24.5%14.3%4.2%
5 Year-46.3%-46.3%349.8%279.1%26.0%8.9%

Price Volatility Vs. Market

How volatile is Tamarack Valley Energy's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tamarack Valley Energy undervalued compared to its fair value and its price relative to the market?

24.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 9TA1 (€1.39) is trading below our estimate of fair value (€1.69)

Significantly Below Fair Value: 9TA1 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 9TA1 is poor value based on its PE Ratio (15.1x) compared to the Oil and Gas industry average (9.4x).

PE vs Market: 9TA1 is good value based on its PE Ratio (15.1x) compared to the German market (20.6x).


Price to Earnings Growth Ratio

PEG Ratio: 9TA1 is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: 9TA1 is good value based on its PB Ratio (0.6x) compared to the DE Oil and Gas industry average (1.1x).


Next Steps

Future Growth

How is Tamarack Valley Energy forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

12.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 9TA1's forecast earnings growth (12.4% per year) is above the savings rate (-0.4%).

Earnings vs Market: 9TA1's earnings (12.4% per year) are forecast to grow slower than the German market (13.2% per year).

High Growth Earnings: 9TA1's earnings are forecast to grow, but not significantly.

Revenue vs Market: 9TA1's revenue (2.4% per year) is forecast to grow slower than the German market (4.8% per year).

High Growth Revenue: 9TA1's revenue (2.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 9TA1's Return on Equity is forecast to be low in 3 years time (2.5%).


Next Steps

Past Performance

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

47.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 9TA1 has high quality earnings.

Growing Profit Margin: 9TA1's current net profit margins (9.4%) are higher than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: 9TA1 has become profitable over the past 5 years, growing earnings by 47.8% per year.

Accelerating Growth: 9TA1's earnings growth over the past year (346.2%) exceeds its 5-year average (47.8% per year).

Earnings vs Industry: 9TA1 earnings growth over the past year (346.2%) exceeded the Oil and Gas industry -5.1%.


Return on Equity

High ROE: 9TA1's Return on Equity (3.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Tamarack Valley Energy's financial position?


Financial Position Analysis

Short Term Liabilities: 9TA1's short term assets (CA$42.7M) do not cover its short term liabilities (CA$61.1M).

Long Term Liabilities: 9TA1's short term assets (CA$42.7M) do not cover its long term liabilities (CA$482.6M).


Debt to Equity History and Analysis

Debt Level: 9TA1's debt to equity ratio (24.1%) is considered satisfactory.

Reducing Debt: 9TA1's debt to equity ratio has reduced from 29.3% to 24.1% over the past 5 years.

Debt Coverage: 9TA1's debt is well covered by operating cash flow (100.4%).

Interest Coverage: 9TA1's interest payments on its debt are well covered by EBIT (5.2x coverage).


Balance Sheet

Inventory Level: 9TA1 has a high level of physical assets or inventory.

Debt Coverage by Assets: 9TA1's debt is not covered by short term assets (assets are 0.2x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.6%industryaverage5.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 9TA1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 9TA1's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 9TA1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 9TA1's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 9TA1's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

9.2yrs

Average management tenure


CEO

Aakaikkitstaki Schmidt (61yo)

9.6yrs

Tenure

CA$2,485,385

Compensation

Mr. Brian Leslie Schmidt, also known as Aakaikkitstaki, has been the Chief Executive Officer and President of Tamarack Valley Energy Ltd since June 2010. Mr. Schmidt serves as the Chief Executive Officer o ...


CEO Compensation Analysis

Compensation vs Market: Aakaikkitstaki's total compensation ($USD1.90M) is above average for companies of similar size in the German market ($USD817.80K).

Compensation vs Earnings: Aakaikkitstaki's compensation has increased by more than 20% in the past year.


Management Age and Tenure

9.2yrs

Average Tenure

Experienced Management: 9TA1's management team is seasoned and experienced (9.2 years average tenure).


Board Age and Tenure

4.1yrs

Average Tenure

65.5yo

Average Age

Experienced Board: 9TA1's board of directors are considered experienced (4.1 years average tenure).


Insider Trading

Insider Buying: 9TA1 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sell€34,40213 Dec 19
Ron Hozjan
EntityIndividual
Shares25,999
Max Price€1.32
Buy€34,12702 Dec 19
Thomas Claugus
EntityIndividual
Shares37,200
Max Price€0.92
Buy€883,26002 Dec 19
GMT Capital Corp.
EntityCompany
Shares962,800
Max Price€0.92
Buy€7,54227 Nov 19
Thomas Claugus
EntityIndividual
Shares6,200
Max Price€1.22
Buy€195,84927 Nov 19
GMT Capital Corp.
EntityCompany
Shares161,000
Max Price€1.22
Buy€14,92220 Nov 19
Thomas Claugus
EntityIndividual
Shares12,800
Max Price€1.17
Buy€389,13520 Nov 19
GMT Capital Corp.
EntityCompany
Shares333,800
Max Price€1.17
Buy€4,09801 Sep 19
Thomas Claugus
EntityIndividual
Shares2,900
Max Price€1.44
Buy€93,62601 Sep 19
GMT Capital Corp.
EntityCompany
Shares66,200
Max Price€1.44
Buy€142,17429 Aug 19
GMT Capital Corp.
EntityCompany
Shares110,200
Max Price€1.29
Buy€6,32229 Aug 19
Thomas Claugus
EntityIndividual
Shares4,900
Max Price€1.29
Buy€232,16328 Aug 19
GMT Capital Corp.
EntityCompany
Shares198,100
Max Price€1.17
Buy€10,19628 Aug 19
Thomas Claugus
EntityIndividual
Shares8,700
Max Price€1.17
Buy€32,26927 Aug 19
Thomas Claugus
EntityIndividual
Shares27,800
Max Price€1.16
Buy€295,98927 Aug 19
GMT Capital Corp.
EntityCompany
Shares255,000
Max Price€1.16
Buy€461,68014 Aug 19
GMT Capital Corp.
EntityCompany
Shares372,800
Max Price€1.24
Buy€7,30513 Aug 19
Thomas Claugus
EntityIndividual
Shares5,600
Max Price€1.30
Buy€165,93413 Aug 19
GMT Capital Corp.
EntityCompany
Shares127,200
Max Price€1.30
Buy€5,33705 Aug 19
Thomas Claugus
EntityIndividual
Shares3,800
Max Price€1.40
Buy€117,97505 Aug 19
GMT Capital Corp.
EntityCompany
Shares84,000
Max Price€1.40
Buy€6,77602 Aug 19
Thomas Claugus
EntityIndividual
Shares4,900
Max Price€1.38
Buy€149,48202 Aug 19
GMT Capital Corp.
EntityCompany
Shares108,100
Max Price€1.38
Buy€3,05830 Jul 19
Thomas Claugus
EntityIndividual
Shares2,400
Max Price€1.27
Buy€67,14130 Jul 19
GMT Capital Corp.
EntityCompany
Shares52,700
Max Price€1.27
Buy€311,54625 Jul 19
GMT Capital Corp.
EntityCompany
Shares221,100
Max Price€1.41
Buy€14,23225 Jul 19
Thomas Claugus
EntityIndividual
Shares10,100
Max Price€1.41
Buy€673,11123 Jul 19
GMT Capital Corp.
EntityCompany
Shares478,900
Max Price€1.42
Buy€30,50023 Jul 19
Thomas Claugus
EntityIndividual
Shares21,700
Max Price€1.42
Buy€70,76115 Jul 19
GMT Capital Corp.
EntityCompany
Shares50,100
Max Price€1.41
Buy€3,24915 Jul 19
Thomas Claugus
EntityIndividual
Shares2,300
Max Price€1.41
Buy€769,16612 Jul 19
GMT Capital Corp.
EntityCompany
Shares541,300
Max Price€1.42
Buy€34,81412 Jul 19
Thomas Claugus
EntityIndividual
Shares24,500
Max Price€1.42
Buy€16,63609 Jul 19
Thomas Claugus
EntityIndividual
Shares11,800
Max Price€1.41
Buy€364,58309 Jul 19
GMT Capital Corp.
EntityCompany
Shares258,600
Max Price€1.41
Sell€300,40322 Apr 19
Ken Cruikshank
EntityIndividual
Role
Other Key Executive
Vice President of Land
Shares160,000
Max Price€1.88
Buy€65219 Mar 19
Thomas Claugus
EntityIndividual
Shares400
Max Price€1.63
Buy€12,38719 Mar 19
GMT Capital Corp.
EntityCompany
Shares7,600
Max Price€1.63
Buy€40,48207 Feb 19
Noralee Bradley
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares27,500
Max Price€1.48

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Scott Reimond

    Vice President of Exploration

    • Tenure: 9.3yrs
    • Compensation: CA$1.35m
  • Aakaikkitstaki Schmidt (61yo)

    President

    • Tenure: 9.6yrs
    • Compensation: CA$2.49m
  • Sony Gill (43yo)

    Corporate Secretary

    • Ken Cruikshank

      Vice President of Land

      • Tenure: 9.6yrs
      • Compensation: CA$1.35m
    • Kevin Screen

      Vice President of Production & Operations

      • Tenure: 8.3yrs
      • Compensation: CA$1.54m
    • Dave Christensen

      Vice President of Engineering

      • Tenure: 5.8yrs
      • Compensation: CA$1.50m
    • June-Marie Innes

      Treasurer

      • Tenure: 2.1yrs
    • Derek Blizzard

      Controller

      • Tenure: 9.2yrs
    • Martin Malek

      Vice President


      Board Members

      • John Leach (74yo)

        Independent Director

        • Tenure: 3yrs
        • Compensation: CA$136.48k
      • Floyd Price (70yo)

        Independent Chairman

        • Compensation: CA$178.32k
      • Jeffrey Boyce (59yo)

        Independent Director

        • Tenure: 6.3yrs
        • Compensation: CA$136.48k
      • David MacKenzie

        Independent Director

        • Tenure: 9.6yrs
        • Compensation: CA$136.48k
      • Aakaikkitstaki Schmidt (61yo)

        President

        • Tenure: 9.6yrs
        • Compensation: CA$2.49m
      • Noralee Bradley

        Independent Director

        • Tenure: 4.1yrs
        • Compensation: CA$136.48k
      • Ian Currie

        Director

        • Tenure: 2.8yrs
        • Compensation: CA$130.00k
      • Robert Spitzer

        Independent Director

        • Tenure: 2.6yrs
        • Compensation: CA$130.00k

      Company Information

      Tamarack Valley Energy Ltd's company bio, employee growth, exchange listings and data sources


      Key Information

      • Name: Tamarack Valley Energy Ltd
      • Ticker: 9TA1
      • Exchange: DB
      • Founded: 2002
      • Industry: Oil and Gas Exploration and Production
      • Sector: Energy
      • Market Cap: CA$440.089m
      • Listing Market Cap: CA$303.083m
      • Shares outstanding: 224.54m
      • Website: https://www.tamarackvalley.ca

      Number of Employees


      Location

      • Tamarack Valley Energy Ltd
      • East Tower
      • Suite 600
      • Calgary
      • Alberta
      • T2P 3L8
      • Canada

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      TVETSX (The Toronto Stock Exchange)YesCommon SharesCACADJun 2002
      9TA1DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2002
      TNEY.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2002

      Biography

      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. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/23 21:52
      End of Day Share Price2020/01/23 00:00
      Earnings2019/09/30
      Annual Earnings2018/12/31


      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.