Tamarack Valley Energy (TSE:TVE) Director Acquires C$1,027,565.00 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Rene Amirault bought 78,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the completion of the purchase, the director directly owned 454,602 shares in the company, valued at approximately C$5,950,740.18. This represents a 20.87% increase in their ownership of the stock.

Rene Amirault also recently made the following trade(s):

• On Thursday, March 19th, Rene Amirault purchased 8 shares of Tamarack Valley Energy stock. The shares were purchased at an average price of C$8.29 per share, with a total value of C$66.32.

Tamarack Valley Energy Trading Down 3.3%

Shares of TSE TVE traded down C$0.46 during midday trading on Friday, reaching C$13.48. 1,643,263 shares of the stock were exchanged, compared to its average volume of 2,193,784. Tamarack Valley Energy Ltd has a twelve month low of C$4.43 and a twelve month high of C$14.03. 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 company has a 50 day simple moving average of C$12.08 and a 200 day simple moving average of C$9.98. The stock has a market capitalization of C$6.45 billion, a P/E ratio of -74.89 and a beta of 0.28.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The firm had revenue of C$375.55 million during the quarter. As a group, equities analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.2%. Tamarack Valley Energy’s payout ratio is presently -86.62%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TVE shares. Canadian Imperial Bank of Commerce raised their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research report on Friday, May 29th. Roth Mkm set a C$15.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. ATB Cormark Capital Markets increased their target price 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. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, National Bank Financial increased their target price on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.