Insider Buying: Tamarack Valley Energy Ltd (TSE:TVE) Director Acquires 83,600 Shares of Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Rene Amirault acquired 83,600 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average cost of C$3.61 per share, with a total value of C$302,163.84.

Tamarack Valley Energy Stock Up 4.0 %

TVE opened at C$3.88 on Friday. Tamarack Valley Energy Ltd has a 12 month low of C$3.10 and a 12 month high of C$5.05. The business has a 50-day moving average of C$4.14 and a two-hundred day moving average of C$4.32. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The stock has a market capitalization of C$2.05 billion, a price-to-earnings ratio of 9.93 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be issued a $0.0127 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.15 dividend on an annualized basis and a yield of 3.93%. Tamarack Valley Energy’s payout ratio is 38.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TVE. CIBC lowered their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. National Bankshares cut their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Desjardins cut shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$6.00 to C$5.25 in a research note on Wednesday, March 19th. Finally, BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Tamarack Valley Energy presently has an average rating of “Moderate Buy” and an average price target of C$5.69.

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.