Insider Buying: Tamarack Valley Energy (TSE:TVE) Insider Acquires C$98,910.00 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston acquired 7,000 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were bought at an average price of C$14.13 per share, with a total value of C$98,910.00. Following the completion of the purchase, the insider owned 119,629 shares in the company, valued at C$1,690,357.77. The trade was a 6.22% increase in their ownership of the stock.

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

• On Monday, November 2nd, Kevin James Johnston purchased 4,000 shares of Tamarack Valley Energy stock. The stock was acquired at an average cost of C$13.59 per share, with a total value of C$54,360.00.
• On Thursday, September 17th, Kevin James Johnston bought 7,500 shares of Tamarack Valley Energy stock. The stock was purchased at an average price of C$13.44 per share, with a total value of C$100,800.00.

Tamarack Valley Energy Trading Down 8.8%

TSE:TVE opened at C$11.76 on Thursday. The stock has a market cap of C$5.52 billion, a PE ratio of 15.47 and a beta of 0.53. The company has a debt-to-equity ratio of 17.31, a current ratio of 1.95 and a quick ratio of 0.80. The stock’s 50-day moving average is C$13.72 and its two-hundred day moving average is C$12.24. Tamarack Valley Energy Ltd has a fifty-two week low of C$6.10 and a fifty-two week high of C$15.16.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, October 28th. The company reported C$0.28 earnings per share for the quarter. The business had revenue of C$365.81 million for the quarter. Tamarack Valley Energy had a return on equity of 20.30% and a net margin of 22.34%. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 1.7%. This is an increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s payout ratio is 22.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TVE. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th. 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 note on Wednesday, September 30th. Royal Bank Of Canada upped their target price on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of 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. Eleven investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Buy” and an average target price of C$15.08.

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.