Tamarack Valley Energy (TSE:TVE) Director Acquires C$101,935.28 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph acquired 16,129 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the acquisition, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their ownership of the stock.

Tamarack Valley Energy Price Performance

Shares of TVE stock traded up C$0.07 on Wednesday, reaching C$6.99. The company’s stock had a trading volume of 1,850,333 shares, compared to its average volume of 1,973,679. The stock’s fifty day simple moving average is C$6.05 and its 200-day simple moving average is C$5.25. Tamarack Valley Energy Ltd has a 1 year low of C$3.10 and a 1 year high of C$7.04. The company has a market capitalization of C$3.44 billion, a price-to-earnings ratio of -41.12 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be issued a dividend of $0.0127 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 2.2%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -89.85%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TVE. ATB Capital increased their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Raymond James Financial lifted their price objective on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Acumen Capital raised their price target on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada increased their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, CIBC lifted their target price on Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$7.36.

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.