Tamarack Valley Energy (TSE:TVE) Insider Acquires 4,000 Shares of Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston bought 4,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were acquired at an average price of C$13.59 per share, with a total value of C$54,360.00. Following the completion of the purchase, the insider directly owned 123,629 shares of the company’s stock, valued at approximately C$1,680,118.11. The trade was a 3.34% increase in their ownership of the stock.

Kevin James Johnston also recently made the following trade(s):

• On Friday, October 30th, Kevin James Johnston purchased 7,000 shares of Tamarack Valley Energy stock. The stock was bought at an average price of C$14.13 per share, for a total transaction of C$98,910.00.
• On Thursday, September 17th, Kevin James Johnston acquired 7,500 shares of Tamarack Valley Energy stock. The stock was bought at an average cost of C$13.44 per share, with a total value of C$100,800.00.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock traded down C$0.87 during mid-day trading on Monday, reaching C$13.22. The company had a trading volume of 1,724,972 shares, compared to its average volume of 2,146,705. Tamarack Valley Energy Ltd has a fifty-two week low of C$6.06 and a fifty-two week high of C$15.16. The company has a current ratio of 1.95, a quick ratio of 0.80 and a debt-to-equity ratio of 17.31. The company has a market cap of C$6.21 billion, a P/E ratio of 17.39 and a beta of 0.41. The business has a fifty day simple moving average of C$13.79 and a 200 day simple moving average of C$12.18.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, October 28th. The company reported C$0.28 earnings per share for the quarter. The firm had revenue of C$365.81 million for the quarter. Tamarack Valley Energy had a net margin of 22.34% and a return on equity of 20.30%. On average, equities research analysts predict that Tamarack Valley Energy Ltd will post 0.14 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 22.29%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TVE shares. Royal Bank Of Canada boosted their price objective on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research report on Wednesday, September 30th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. ATB Cormark Capital Markets upped their price target on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Finally, Desjardins increased their price target on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Eleven investment analysts have rated the stock with a Buy rating. According to MarketBeat, Tamarack Valley Energy presently has a consensus rating of “Buy” and a consensus target price of C$15.08.

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.