Tamarack Valley Energy (TSE:TVE) Insider Buys 5,000 Shares of Stock

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

Tamarack Valley Energy Stock Down 1.7%

TVE traded down C$0.19 during trading hours on Monday, hitting C$11.18. 3,046,205 shares of the company’s stock were exchanged, compared to its average volume of 2,181,930. Tamarack Valley Energy Ltd has a 1-year low of C$6.60 and a 1-year high of C$15.16. The stock’s 50-day moving average is C$13.58 and its two-hundred day moving average is C$12.28. The stock has a market cap of C$5.25 billion, a price-to-earnings ratio of 14.71 and a beta of 0.53. The company has a quick ratio of 0.80, a current ratio of 1.95 and a debt-to-equity ratio of 17.31.

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

Tamarack Valley Energy Increases Dividend

The business 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 an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Royal Bank Of Canada raised 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 note on Wednesday, October 21st. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th. Scotiabank set a C$17.00 price target on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research report on Wednesday, September 30th. Finally, ATB Cormark Capital Markets upped their price objective on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Tamarack Valley Energy presently has a consensus rating of “Buy” and a consensus price target 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.