Tamarack Valley Energy (TSE:TVE) Director Acquires 36,568 Shares

Tamarack Valley Energy Ltd (TSE:TVE) Director Caralyn Patricia Bennett acquired 36,568 shares of the stock in a transaction dated Monday, September 21st. The shares were bought at an average cost of C$13.26 per share, for a total transaction of C$484,891.68. Following the completion of the transaction, the director owned 169,192 shares in the company, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock.

Tamarack Valley Energy Stock Performance

TSE TVE traded down C$0.31 on Monday, reaching C$13.26. 2,856,270 shares of the stock were exchanged, compared to its average volume of 2,071,551. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. Tamarack Valley Energy Ltd has a one year low of C$5.84 and a one year high of C$14.42. The firm has a market capitalization of C$6.30 billion, a PE ratio of 189.43 and a beta of 0.26. The company’s 50-day simple moving average is C$13.35 and its two-hundred day simple moving average is C$12.51.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly 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%. Analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 1.5%. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s payout ratio is currently 225.24%.

Wall Street Analysts Forecast Growth

TVE has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Desjardins boosted their price target on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Finally, Canadian Imperial Bank of Commerce upped their price target 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. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat, 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.