Tamarack Valley Energy (TSE:TVE) Director Acquires C$484,891.68 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Caralyn Patricia Bennett acquired 36,568 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was bought at an average price of C$13.26 per share, with a total value of C$484,891.68. Following the completion of the acquisition, the director directly owned 169,192 shares in the company, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their position.

Tamarack Valley Energy Trading Down 0.5%

TSE:TVE opened at C$12.99 on Thursday. The company has a 50-day moving average price of C$13.36 and a 200-day moving average price of C$12.55. The stock has a market cap of C$6.15 billion, a price-to-earnings ratio of 185.57 and a beta of 0.26. 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 12 month low of C$5.93 and a 12 month high of C$14.42.

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

Tamarack Valley Energy Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research report on Friday, May 29th. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Raymond James Financial boosted their target price on shares of 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. Desjardins upped their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Finally, Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of “Buy” and a consensus target price of C$13.93.

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.