Tamarack Valley Energy (TSE:TVE) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Tamarack Valley Energy Ltd (TSE:TVE)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$12.24 and traded as low as C$11.71. Tamarack Valley Energy shares last traded at C$11.76, with a volume of 4,340,179 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Raymond James Financial lifted their price target on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Canaccord Genuity Group raised their target price on shares of 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. Scotiabank set a C$17.00 target price on shares of Tamarack Valley Energy and gave the company a “sector outperform” rating in a research note on Wednesday, September 30th. Finally, Desjardins lifted their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Buy” and a consensus price target of C$15.08.

Tamarack Valley Energy Stock Performance

The company has a market capitalization of C$5.34 billion, a PE ratio of 14.96 and a beta of 0.53. The business’s fifty day moving average is C$13.63 and its two-hundred day moving average is C$12.27. The company has a current ratio of 1.95, a quick ratio of 0.80 and a debt-to-equity ratio of 17.31.

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

Tamarack Valley Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 15th. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s payout ratio is 22.29%.

Insider Activity

In related news, Director Caralyn Patricia Bennett purchased 36,568 shares of Tamarack Valley Energy stock in a transaction on 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 acquisition, the director owned 169,192 shares in the company, valued at approximately C$2,243,485.92. The trade was a 27.57% increase in their position. Also, insider Kevin James Johnston bought 4,000 shares of Tamarack Valley Energy stock in a transaction dated Monday, November 2nd. The stock was purchased at an average cost of C$13.59 per share, for a total transaction of C$54,360.00. Following the completion of the acquisition, the insider directly owned 123,629 shares of the company’s stock, valued at approximately C$1,680,118.11. The trade was a 3.34% increase in their position. Insiders have purchased 55,458 shares of company stock valued at $744,227 in the last quarter. 1.32% of the stock is currently owned by company insiders.

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.