Tamarack Valley Energy (TSE:TVE) Insider Purchases C$59,400.00 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Steven Buytels purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of C$11.88 per share, for a total transaction of C$59,400.00. Following the completion of the purchase, the insider directly owned 471,742 shares in the company, valued at C$5,604,294.96. This represents a 1.07% increase in their ownership of the stock.

Tamarack Valley Energy Price Performance

Shares of TVE opened at C$11.78 on Thursday. Tamarack Valley Energy Ltd has a 1-year low of C$6.79 and a 1-year high of C$15.16. The stock has a market cap of C$5.53 billion, a PE ratio of 15.50 and a beta of 0.53. The company has a debt-to-equity ratio of 17.31, a current ratio of 1.95 and a quick ratio of 0.80. The firm has a fifty day moving average price of C$13.49 and a 200 day moving average price of C$12.31.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, October 28th. The company reported C$0.28 earnings per share (EPS) for the quarter. The company had revenue of C$365.81 million during the quarter. Tamarack Valley Energy had a net margin of 22.34% and a return on equity of 20.30%. As a group, sell-side analysts anticipate that Tamarack Valley Energy Ltd will post 0.14 EPS for the current year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were given a $0.05 dividend. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. Tamarack Valley Energy’s payout ratio is currently 22.29%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Desjardins increased their price objective on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday, September 9th. Canaccord Genuity Group increased their price objective on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.