Tamarack Valley Energy (TSE:TVE) Director Shannon Joseph Purchases 27,521 Shares

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph acquired 27,521 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the transaction, the director owned 66,376 shares in the company, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock.

Shannon Joseph also recently made the following trade(s):

• On Thursday, March 19th, Shannon Joseph acquired 36 shares of Tamarack Valley Energy stock. The shares were acquired at an average cost of C$6.03 per share, with a total value of C$217.08.

Tamarack Valley Energy Stock Performance

Shares of TVE stock traded down C$0.08 during mid-day trading on Tuesday, reaching C$12.65. 1,116,010 shares of the company’s stock traded hands, compared to its average volume of 2,181,856. Tamarack Valley Energy Ltd has a 12 month low of C$4.68 and a 12 month high of C$14.03. The firm has a 50 day moving average price of C$12.36 and a two-hundred day moving average price of C$10.27. The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69. The firm has a market capitalization of C$6.05 billion, a PE ratio of -70.28 and a beta of 0.28.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The company had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. On average, research analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.04 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.16 annualized dividend and a yield of 1.3%. Tamarack Valley Energy’s payout ratio is presently -86.62%.

Wall Street Analyst Weigh In

Several brokerages have commented on TVE. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. ATB Cormark Capital Markets boosted their price target on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Royal Bank Of Canada boosted their price target on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Acumen Capital raised their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Desjardins raised their target price 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. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Buy” and an average price target of C$12.73.

About Tamarack Valley Energy

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.