Tamarack Valley Energy (TSE:TVE) Insider Kevin James Johnston Buys 7,500 Shares

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston acquired 7,500 shares of the stock in a transaction dated Thursday, September 17th. The stock was bought at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the completion of the purchase, the insider directly owned 104,491 shares in the company, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock.

Tamarack Valley Energy Trading Down 0.4%

Shares of Tamarack Valley Energy stock traded down C$0.05 on Thursday, reaching C$13.47. The company had a trading volume of 844,688 shares, compared to its average volume of 2,057,121. The firm has a market cap of C$6.40 billion, a price-to-earnings ratio of 192.43 and a beta of 0.26. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm’s 50-day moving average price is C$13.32 and its two-hundred day moving average price is C$12.45. Tamarack Valley Energy Ltd has a 1 year low of C$5.84 and a 1 year high of C$14.42.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The company had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. As a group, research analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Tamarack Valley Energy’s payout ratio is currently 225.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TVE shares. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, August 18th. 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 note on Friday, May 29th. Canaccord Genuity Group boosted their target price on 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. Raymond James Financial upped their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Finally, Desjardins raised their price target on 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. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$13.93.

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.