Tamarack Valley Energy (TSE:TVE) Share Price Breaks Below 200-Day Moving Average – Should You Sell?

Shares of Tamarack Valley Energy Ltd (TSE:TVE) passed 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 changing hands.

Analysts Set New Price Targets

TVE has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Raymond James Financial upped their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Canaccord Genuity Group raised their price objective on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. ATB Cormark Capital Markets raised their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Finally, Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th. Eleven analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$15.08.

Tamarack Valley Energy Stock Performance

The company has a market capitalization of C$5.52 billion, a price-to-earnings 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 has a 50 day moving average price of C$13.72 and a two-hundred day moving average price of C$12.24.

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

Tamarack Valley Energy Increases Dividend

The business also recently announced 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. The ex-dividend date was Tuesday, September 15th. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 22.29%.

Insider Activity at Tamarack Valley Energy

In related news, insider Kevin James Johnston purchased 4,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average price of C$13.59 per share, with a total value of C$54,360.00. Following the completion of the acquisition, the insider directly owned 123,629 shares in the company, valued at approximately C$1,680,118.11. This trade represents a 3.34% increase in their position. Also, Director Caralyn Patricia Bennett purchased 36,568 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the acquisition, the director owned 169,192 shares of the company’s stock, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Insiders have bought 55,458 shares of company stock worth $744,227 over the last three months. 1.32% of the stock is owned by 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.