Tamarack Valley Energy (TSE:TVE) Trading Up 0.1% – What’s Next?

Shares of Tamarack Valley Energy Ltd (TSE:TVE) traded up 0.1% on Friday . The company traded as high as C$12.85 and last traded at C$12.78. 619,675 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 2,112,524 shares. The stock had previously closed at C$12.77.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canaccord Genuity Group upgraded Tamarack Valley Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$12.00 to C$15.00 in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their target price on 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. Finally, Roth Capital set a C$15.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Tamarack Valley Energy currently has an average rating of “Buy” and an average target price of C$12.72.

Tamarack Valley Energy Stock Performance

The company has a market capitalization of C$6.11 billion, a P/E ratio of -71.00 and a beta of 0.33. The company has a debt-to-equity ratio of 38.89, a current ratio of 0.69 and a quick ratio of 0.80. The company has a fifty day moving average price of C$12.76 and a two-hundred day moving average price of C$10.89.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The business had revenue of C$375.55 million during the quarter. Equities analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -86.62%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Robert Spitzer sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the sale, the director owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. Also, Director Shannon Joseph acquired 27,521 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the acquisition, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. 1.32% of the stock is owned by company insiders.

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.