Tamarack Valley Energy (TSE:TVE) Director Acquires C$24,485.44 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Robert Spitzer acquired 4,501 shares of the stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of C$5.44 per share, for a total transaction of C$24,485.44. Following the completion of the purchase, the director directly owned 434,442 shares in the company, valued at C$2,363,364.48. The trade was a 1.05% increase in their ownership of the stock.

Tamarack Valley Energy Stock Up 0.4%

Shares of TVE stock opened at C$11.23 on Friday. Tamarack Valley Energy Ltd has a 52-week low of C$3.10 and a 52-week high of C$11.47. The stock has a market cap of C$5.44 billion, a price-to-earnings ratio of -160.43 and a beta of 0.70. The firm’s 50-day moving average is C$9.63 and its 200-day moving average is C$7.79. The company has a debt-to-equity ratio of 37.29, a quick ratio of 0.80 and a current ratio of 0.90.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. The business had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%. Sell-side analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 13th. Tamarack Valley Energy’s payout ratio is currently -220.24%.

Analyst Ratings Changes

TVE has been the topic of a number of research analyst reports. Raymond James Financial cut Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Cormark Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Desjardins upped their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. National Bank Financial increased their price objective on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Company Profile

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.