Robert Spitzer Buys 4,501 Shares of Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Robert Spitzer purchased 4,501 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of C$5.44 per share, for a total transaction of C$24,485.44. Following the completion of the acquisition, the director directly owned 434,442 shares in the company, valued at approximately C$2,363,364.48. This represents a 1.05% increase in their position.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$11.23 on Friday. The firm has a 50 day moving average of C$9.63 and a 200-day moving average of C$7.78. The company has a market cap of C$5.44 billion, a price-to-earnings ratio of -160.43 and a beta of 0.70. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 37.29. Tamarack Valley Energy Ltd has a 52 week low of C$3.10 and a 52 week high of C$11.47.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$304.60 million for the quarter. Tamarack Valley Energy had a negative net margin of 2.41% and a negative return on equity of 1.84%. On average, equities analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, March 13th. This represents a $0.16 annualized dividend and a dividend yield of 1.4%. Tamarack Valley Energy’s dividend payout ratio is currently -220.24%.

Analyst Ratings Changes

TVE has been the subject of several research reports. ATB Cormark Capital Markets raised their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Royal Bank Of Canada upped their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Desjardins increased their price target on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Acumen Capital raised their price objective on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.11.

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.