Tamarack Valley Energy (TSE:TVE) Stock: Insider Kevin James Johnston Buys 7,000 Shares

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston purchased 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average price of C$14.13 per share, for a total transaction of C$98,910.00. Following the completion of the acquisition, the insider directly owned 119,629 shares in the company, valued at C$1,690,357.77. The trade was a 6.22% increase in their position.

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

• On Monday, November 2nd, Kevin James Johnston acquired 4,000 shares of Tamarack Valley Energy stock. The stock was purchased at an average cost of C$13.59 per share, with a total value of C$54,360.00.
• On Thursday, September 17th, Kevin James Johnston acquired 7,500 shares of Tamarack Valley Energy stock. The stock was purchased at an average cost of C$13.44 per share, with a total value of C$100,800.00.

Tamarack Valley Energy Trading Down 6.2%

Shares of TSE:TVE traded down C$0.87 during trading hours on Monday, hitting C$13.22. 1,724,972 shares of the company’s stock traded hands, compared to its average volume of 2,146,705. Tamarack Valley Energy Ltd has a 1 year low of C$6.06 and a 1 year high of C$15.16. The business has a fifty day moving average price of C$13.79 and a 200-day moving average price of C$12.18. The firm has a market capitalization of C$6.21 billion, a P/E ratio of 17.39 and a beta of 0.41. The company has a debt-to-equity ratio of 17.31, a current ratio of 1.95 and a quick ratio of 0.80.

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

Tamarack Valley Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders 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 annualized dividend and a yield of 1.5%. Tamarack Valley Energy’s dividend payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TVE. ATB Cormark Capital Markets boosted their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Desjardins raised their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Scotiabank set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the company a “sector outperform” rating in a report on Wednesday, September 30th. Raymond James Financial boosted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of 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 investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus 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.