Tamarack Valley Energy (TSE:TVE) Insider Purchases C$100,800.00 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston purchased 7,500 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were bought at an average cost of C$13.44 per share, for a total transaction of C$100,800.00. Following the acquisition, the insider owned 104,491 shares in the company, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock.

Tamarack Valley Energy Stock Performance

Shares of TVE traded down C$0.05 during mid-day trading on Thursday, hitting C$13.47. 844,688 shares of the company traded hands, compared to its average volume of 2,057,121. The stock has a market cap of C$6.40 billion, a price-to-earnings ratio of 192.43 and a beta of 0.26. The stock has a 50-day moving average price of C$13.32 and a two-hundred day moving average price of C$12.45. Tamarack Valley Energy Ltd has a 1 year low of C$5.84 and a 1 year high of C$14.42. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The business had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. Equities analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.5%. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 225.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Raymond James Financial raised their price target on 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. Canaccord Genuity Group upped their price objective on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Canadian Imperial Bank of Commerce increased 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 report on Friday, May 29th. Finally, Desjardins lifted their target price 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. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$13.93.

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.