Tamarack Valley Energy (TSE:TVE) Stock: Insider Kevin James Johnston Purchases 7,000 Shares

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston acquired 7,000 shares of the stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of C$14.13 per share, with a total value of C$98,910.00. Following the completion of the transaction, the insider owned 119,629 shares in the company, valued at approximately C$1,690,357.77. This represents a 6.22% increase in their position.

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

• On Monday, November 2nd, Kevin James Johnston acquired 4,000 shares of Tamarack Valley Energy stock. The stock was acquired at an average price of C$13.59 per share, for a total transaction of C$54,360.00.
• On Thursday, September 17th, Kevin James Johnston acquired 7,500 shares of Tamarack Valley Energy stock. The stock was acquired at an average price of C$13.44 per share, for a total transaction of C$100,800.00.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$12.90 on Wednesday. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.80 and a current ratio of 1.95. 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 firm has a market capitalization of C$6.06 billion, a PE ratio of 16.97 and a beta of 0.53. The stock’s 50-day simple moving average is C$13.76 and its 200-day simple moving average is C$12.22.

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

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 1.6%. Tamarack Valley Energy’s dividend payout ratio is 22.29%.

Wall Street Analysts Forecast Growth

TVE has been the subject of several research analyst reports. Raymond James Financial upped their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. ATB Cormark Capital Markets boosted their price target on shares of 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. Desjardins boosted their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Finally, Scotiabank set a C$17.00 price objective on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a report on Wednesday, September 30th. Eleven research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target 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.