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

Tamarack Valley Energy Ltd (TSE:TVE) Director Robert Spitzer acquired 4,501 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of C$5.44 per share, with a total value 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 ownership of the stock.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE traded up C$0.11 during trading on Friday, reaching C$11.29. 328,103 shares of the company traded hands, compared to its average volume of 2,026,813. The firm has a market capitalization of C$5.47 billion, a PE ratio of -161.29 and a beta of 0.70. Tamarack Valley Energy Ltd has a 52 week low of C$3.10 and a 52 week high of C$11.40. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 37.29. The company’s 50 day moving average is C$9.56 and its two-hundred day moving average is C$7.74.

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

Tamarack Valley Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be given a $0.04 dividend. 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 payout ratio is presently -220.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Acumen Capital boosted their price objective on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. ATB Cormark Capital Markets raised their price objective 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. BMO Capital Markets lifted their target price on Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Finally, Canadian Imperial Bank of Commerce boosted their target price 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. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Tamarack Valley Energy has an average 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.