Tamarack Valley Energy (TSE:TVE) Insider Acquires 5,000 Shares of Stock

Key Points

• Insider Steven Buytels bought 5,000 shares at C$11.88 each, spending C$59,400. The purchase increased his holdings by 1.07% to 471,742 shares.
• Tamarack shares recently traded at C$11.18, down 1.7% on the day. The company reported quarterly EPS of C$0.28 on revenue of C$365.81 million.
• The company raised its quarterly dividend from C$0.04 to C$0.05 per share. Analysts maintain a consensus “Buy” rating and a C$15.08 price target.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) insider Steven Buytels acquired 5,000 shares of Tamarack Valley Energy stock in a transaction on Wednesday, November 4th. The stock was acquired at an average cost of C$11.88 per share, for a total transaction of C$59,400.00. Following the completion of the purchase, the insider owned 471,742 shares of the company's stock, valued at approximately C$5,604,294.96. The trade was a 1.07% increase in their position.

Tamarack Valley Energy Trading Down 1.7%

TVE traded down C$0.19 during trading on Monday, reaching C$11.18. 3,046,205 shares of the company's stock were exchanged, compared to its average volume of 2,181,930. The company's fifty day moving average price is C$13.58 and its 200-day moving average price is C$12.28. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.80 and a current ratio of 1.95. Tamarack Valley Energy Ltd has a fifty-two week low of C$6.60 and a fifty-two week high of C$15.16. The firm has a market capitalization of C$5.25 billion, a PE ratio of 14.71 and a beta of 0.53.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported C$0.28 earnings per share for the quarter. The company had revenue of C$365.81 million for the quarter. Tamarack Valley Energy had a return on equity of 20.30% and a net margin of 22.34%. As a group, equities analysts forecast that Tamarack Valley Energy Ltd will post 0.14 EPS for the current year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. This is a boost from Tamarack Valley Energy's previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, September 15th. Tamarack Valley Energy's dividend payout ratio (DPR) is 22.29%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the company a "sector outperform" rating in a research note on Wednesday, September 30th. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, August 18th. ATB Cormark Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Royal Bank Of Canada upped their target price on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 21st. Finally, Desjardins increased their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a "buy" rating in a report on Wednesday, September 9th. Eleven research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Tamarack Valley Energy has a consensus rating of "Buy" and a consensus target price of C$15.08.

About Tamarack Valley Energy

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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