Tamarack Valley Energy (TSE:TVE) Trading Up 0.1% – Here’s What Happened

Shares of Tamarack Valley Energy Ltd (TSE:TVE) rose 0.1% during mid-day trading on Friday . The company traded as high as C$12.85 and last traded at C$12.78. Approximately 619,675 shares changed hands during trading, a decline of 71% from the average session volume of 2,112,524 shares. The stock had previously closed at C$12.77.

Analyst Ratings Changes

A number of analysts have recently commented on TVE shares. Canaccord Genuity Group upgraded Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from C$12.00 to C$15.00 in a report on Friday, May 29th. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Royal Bank Of Canada lifted their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Raymond James Financial upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce upped their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$12.72.

Tamarack Valley Energy Stock Up 0.1%

The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 38.89. The firm’s 50 day simple moving average is C$12.76 and its 200-day simple moving average is C$10.89. The stock has a market capitalization of C$6.11 billion, a price-to-earnings ratio of -71.00 and a beta of 0.33.

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

Tamarack Valley Energy Announces Dividend

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

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Robert Spitzer sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the sale, the director owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This represents a 2.30% decrease in their position. Also, Director Shannon Joseph acquired 27,521 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the acquisition, the director owned 66,376 shares in the company, valued at C$833,682.56. The trade was a 70.83% increase in their position. Corporate insiders own 1.32% of the company’s stock.

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.