Shannon Joseph Acquires 27,521 Shares of Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph acquired 27,521 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were bought at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the transaction, the director directly owned 66,376 shares in the company, valued at C$833,682.56. This trade represents a 70.83% increase in their position.

Shannon Joseph also recently made the following trade(s):

• On Thursday, March 19th, Shannon Joseph acquired 36 shares of Tamarack Valley Energy stock. The shares were bought at an average cost of C$6.03 per share, with a total value of C$217.08.

Tamarack Valley Energy Stock Down 0.8%

Tamarack Valley Energy stock opened at C$12.51 on Thursday. Tamarack Valley Energy Ltd has a twelve month low of C$4.68 and a twelve month high of C$14.03. The stock has a 50 day moving average of C$12.41 and a two-hundred day moving average of C$10.34. The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 37.62. The stock has a market capitalization of C$5.98 billion, a price-to-earnings ratio of -69.50 and a beta of 0.28.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%. As a group, research analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.16 annualized dividend and a yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -86.62%.

Analysts Set New Price Targets

TVE has been the subject of several recent research reports. Roth Mkm set a C$15.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, May 19th. ATB Cormark Capital Markets raised their price target on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Acumen Capital raised their price target on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Finally, National Bank Financial raised their price target on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, Tamarack Valley Energy has an average rating of “Buy” and a consensus target price of C$12.73.

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.