Tamarack Valley Energy (TSE:TVE) Insider Purchases 4,000 Shares of Company Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston bought 4,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was bought at an average price of C$13.59 per share, for a total transaction of C$54,360.00. Following the acquisition, the insider directly owned 123,629 shares of the company’s stock, valued at approximately C$1,680,118.11. This represents a 3.34% increase in their ownership of the stock.

Kevin James Johnston also recently made the following trade(s):

• On Friday, October 30th, Kevin James Johnston acquired 7,000 shares of Tamarack Valley Energy stock. The stock was purchased at an average price of C$14.13 per share, with a total value of C$98,910.00.
• On Thursday, September 17th, Kevin James Johnston bought 7,500 shares of Tamarack Valley Energy stock. The shares were acquired at an average cost of C$13.44 per share, with a total value of C$100,800.00.

Tamarack Valley Energy Stock Performance

TVE stock traded down C$0.87 during mid-day trading on Monday, hitting C$13.22. The company had a trading volume of 1,724,972 shares, compared to its average volume of 2,146,705. The firm has a market cap of C$6.21 billion, a PE ratio of 17.39 and a beta of 0.41. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.80 and a current ratio of 1.95. Tamarack Valley Energy Ltd has a 12 month low of C$6.06 and a 12 month high of C$15.16. The stock’s fifty day moving average price is C$13.79 and its two-hundred day moving average price is C$12.18.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, October 28th. The company reported C$0.28 earnings per share (EPS) for the quarter. The business had revenue of C$365.81 million during the quarter. Tamarack Valley Energy had a return on equity of 20.30% and a net margin of 22.34%. On average, analysts forecast that Tamarack Valley Energy Ltd will post 0.14 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TVE. Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. ATB Cormark Capital Markets lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Canaccord Genuity Group upped their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$15.08.

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.