Tamarack Valley Energy (TSE:TVE) Director Acquires C$345,663.76 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph purchased 27,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the purchase, the director owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their position.

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 bought at an average price of C$6.03 per share, for a total transaction of C$217.08.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$12.18 on Friday. The stock has a market capitalization of C$5.82 billion, a PE ratio of -67.67 and a beta of 0.28. The company has a debt-to-equity ratio of 37.62, a current ratio of 0.69 and a quick ratio of 0.80. The business has a fifty day moving average price of C$12.42 and a two-hundred day moving average price of C$10.37. Tamarack Valley Energy Ltd has a fifty-two week low of C$4.68 and a fifty-two week high of C$14.03.

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

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.16 annualized dividend and a yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio is currently -86.62%.

Analyst Upgrades and Downgrades

Several research firms have commented on TVE. ATB Cormark Capital Markets raised their target price on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. National Bank Financial lifted their price objective on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, Roth Mkm set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, May 19th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Tamarack Valley Energy has a consensus rating of “Buy” and a consensus target price of C$12.72.

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.