Insider Buying: Tamarack Valley Energy (TSE:TVE) Director Acquires 36,568 Shares

Key Points

• Insider buying: Director Caralyn Patricia Bennett purchased 36,568 shares at an average C$13.26 each, investing approximately C$484,892 and increasing her direct ownership by 27.57% to 169,192 shares.
• Stock and financial performance: Tamarack Valley Energy shares closed at C$13.26, near the company’s 12-month high of C$14.42. The company reported quarterly revenue of C$493.95 million and EPS of C$0.43, though net margin was 1.50%.
• Dividend and analyst outlook: The company raised its quarterly dividend to C$0.05 per share, equivalent to a 1.5% yield. Analysts maintain a consensus “Buy” rating, with a consensus price target of C$13.93 and several targets ranging from C$15.25 to C$17.00.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) Director Caralyn Patricia Bennett acquired 36,568 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average cost of C$13.26 per share, for a total transaction of C$484,891.68. Following the completion of the transaction, the director directly owned 169,192 shares of the company's stock, valued at C$2,243,485.92. The trade was a 27.57% increase in their ownership of the stock.

Tamarack Valley Energy Stock Performance

TSE TVE traded down C$0.31 during trading hours on Monday, hitting C$13.26. The company's stock had a trading volume of 2,856,270 shares, compared to its average volume of 2,071,551. Tamarack Valley Energy Ltd has a 12 month low of C$5.84 and a 12 month high of C$14.42. The company's 50 day simple moving average is C$13.35 and its two-hundred day simple moving average is C$12.51. 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 company has a market cap of C$6.30 billion, a P/E ratio of 189.43 and a beta of 0.26.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. As a group, sell-side analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Tamarack Valley Energy's previous quarterly dividend of $0.04. Tamarack Valley Energy's payout ratio is currently 225.24%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canadian Imperial Bank of Commerce upped their price objective on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an "outperformer" rating in a research report on Friday, May 29th. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. 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 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. Finally, Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a report on Tuesday, August 18th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy currently has an average rating of "Buy" and a consensus 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.

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