Insider Buying: Tamarack Valley Energy (TSE:TVE) Insider Acquires C$54,360.00 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of C$13.59 per share, for a total transaction of C$54,360.00. Following the completion of the acquisition, the insider owned 123,629 shares in the company, valued at approximately C$1,680,118.11. This trade represents a 3.34% increase in their position.

Kevin James Johnston also recently made the following trade(s):

• On Friday, October 30th, Kevin James Johnston purchased 7,000 shares of Tamarack Valley Energy stock. The shares were bought at an average cost of C$14.13 per share, for a total transaction of C$98,910.00.
• On Thursday, September 17th, Kevin James Johnston purchased 7,500 shares of Tamarack Valley Energy stock. The stock was bought at an average price of C$13.44 per share, with a total value of C$100,800.00.

Tamarack Valley Energy Stock Down 8.8%

Shares of TSE:TVE opened at C$11.76 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.95 and a debt-to-equity ratio of 17.31. Tamarack Valley Energy Ltd has a 52-week low of C$6.10 and a 52-week high of C$15.16. The company has a 50 day moving average of C$13.72 and a two-hundred day moving average of C$12.24. The company has a market capitalization of C$5.52 billion, a price-to-earnings ratio of 15.47 and a beta of 0.53.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, October 28th. The company reported C$0.28 EPS for the quarter. Tamarack Valley Energy had a net margin of 22.34% and a return on equity of 20.30%. The business had revenue of C$365.81 million for the quarter. As a group, analysts forecast that Tamarack Valley Energy Ltd will post 0.14 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.05 per share. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 15th. Tamarack Valley Energy’s payout ratio is 22.29%.

Analysts Set New Price Targets

TVE has been the topic of several recent analyst reports. 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 research note on Wednesday, September 9th. ATB Cormark Capital Markets lifted their price objective on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group increased their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Scotiabank set a C$17.00 price target on shares of Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research report on Wednesday, September 30th. Eleven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$15.08.

Tamarack Valley Energy Company Profile

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.