Kevin James Johnston Purchases 7,500 Shares of Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy Ltd (TSE:TVE) insider Kevin James Johnston bought 7,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the completion of the purchase, the insider directly owned 104,491 shares in the company, valued at C$1,404,359.04. This represents a 7.73% increase in their ownership of the stock.

Tamarack Valley Energy Price Performance

TVE stock opened at C$13.57 on Friday. The business’s 50-day moving average is C$13.35 and its two-hundred day moving average is C$12.48. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm has a market capitalization of C$6.45 billion, a P/E ratio of 193.86 and a beta of 0.26. Tamarack Valley Energy Ltd has a 1 year low of C$5.84 and a 1 year high of C$14.42.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The business had revenue of C$493.95 million during the quarter. Analysts anticipate that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio (DPR) is 225.24%.

Wall Street Analysts Forecast Growth

TVE has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of 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. Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Desjardins upped their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Raymond James Financial increased their price target 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. Finally, 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 research report on Wednesday, September 9th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$13.93.

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.