Insider Buying: Tamarack Valley Energy (TSE:TVE) Director Buys C$101,935.28 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph acquired 16,129 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the purchase, the director owned 38,328 shares of the company’s stock, valued at approximately C$242,232.96. This trade represents a 72.66% increase in their ownership of the stock.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$6.97 on Friday. The stock has a 50-day moving average price of C$6.15 and a 200 day moving average price of C$5.29. The stock has a market capitalization of C$3.43 billion, a P/E ratio of -41.00 and a beta of 0.79. Tamarack Valley Energy Ltd has a 12-month low of C$3.10 and a 12-month high of C$7.06. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%.The business had revenue of C$406.32 million during the quarter. Equities research analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were given a dividend of $0.0127 per share. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. ATB Capital lifted their price target on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a report on Thursday, October 30th. Raymond James Financial raised their price objective on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Canaccord Genuity Group downgraded Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Desjardins upgraded shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Finally, CIBC lifted their target price on Tamarack Valley Energy from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$7.36.

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.