Tamarack Valley Energy (TSE:TVE) Director Shannon Joseph Acquires 16,129 Shares of Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph acquired 16,129 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the transaction, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. The trade was a 72.66% increase in their position.

Tamarack Valley Energy Stock Up 1.3%

TVE traded up C$0.09 on Thursday, reaching C$7.05. The company’s stock had a trading volume of 316,536 shares, compared to its average volume of 1,968,473. The stock has a 50 day moving average of C$6.09 and a two-hundred day moving average of C$5.26. Tamarack Valley Energy Ltd has a fifty-two week low of C$3.10 and a fifty-two week high of C$7.05. The company has a market capitalization of C$3.47 billion, a price-to-earnings ratio of -41.47 and a beta of 0.79. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Friday, October 31st. The company reported C($0.50) earnings per share (EPS) for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The company had revenue of C$406.32 million during the quarter. As a group, analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 14th will be paid a $0.0127 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.2%. Tamarack Valley Energy’s payout ratio is currently -89.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TVE. National Bankshares upped their price target on Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada raised their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Desjardins raised Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. ATB Capital increased their target price on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$7.36.

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.