CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks. Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
Open platformOpen platform

Canada's Tamarack Valley Energy Q3 revenue rises on higher commodity prices and production

By Reuters News


Overview

  • Canada oil producer's Q3 revenue rose 19% yr/yr on higher commodity prices and production

  • Q3 adjusted EPS rose to C$0.45 from C$0.40 a year earlier

  • Company plans 20% dividend increase, contingent on Headwater merger closing


Outlook

  • Company raises 2026 average production guidance to 65,500-67,500 boe/d from 61,500-63,000

  • Company increases 2026 capital investment guidance to C$450-C$470 mln from C$430-C$450 mln

  • Company plans 20% dividend increase to $0.06/share quarterly, contingent on Headwater deal closing


Result Drivers

  • WATERFLOOD EXPANSION - Co said increased Clearwater production was driven by ongoing drilling and strong reservoir response from waterflood expansions

  • CAPITAL ACCELERATION - Co accelerated development spending in response to higher commodity prices

  • HIGHER PRICES - Co benefited from elevated oil and gas prices


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Oil & Nat Gas Revenue

C$468.69 mln

Q3 Adjusted EPS

C$0.45

Q3 Net Income

C$98.84 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Tamarack Valley Energy Ltd. is C$17.00, about 15.7% above its October 27 closing price of C$14.69

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Oct 26 - Ovintiv to buy Logan Energy for $890 million, expanding Montney oil position

  • Oct 26 - Canada's PrairieSky Royalty Q3 funds from operations up 42%

  • Oct 27 - Canada's Trican Well Service Q3 profit rises on higher activity, Iron Horse contribution


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.