Tamarack Valley Energy (TSE:TVE) Stock Price Up 0.1% - Here's What Happened

Key Points

• Tamarack Valley Energy shares edged up 0.1% on Friday, trading between C$12.77 and C$12.85 on lighter-than-average volume.
• Analysts remain constructive on the stock, with several recent upgrades and higher price targets; MarketBeat says the consensus rating is Buy with an average target price of C$12.72.
• The company paid a quarterly dividend of C$0.04 per share, and insiders also bought shares recently, including sizable purchases by directors Rene Amirault and Shannon Joseph.

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report)'s stock price was up 0.1% during trading on Friday . The stock traded as high as C$12.85 and last traded at C$12.78. 619,675 shares were traded 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 equities analysts have issued reports on TVE shares. Royal Bank Of Canada raised their price objective on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Canaccord Genuity Group raised Tamarack Valley Energy from a "hold" rating to a "buy" rating and increased their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce raised 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. Raymond James Financial raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$12.72.

Tamarack Valley Energy Trading Up 0.1%

The company has a market capitalization of C$6.11 billion, a P/E ratio of -71.00 and a beta of 0.33. The company has a debt-to-equity ratio of 38.89, a current ratio of 0.69 and a quick ratio of 0.80. The business's 50-day moving average price is C$12.76 and its two-hundred day moving average price is C$10.89.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The business had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%. As a group, analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Tamarack Valley Energy's dividend payout ratio (DPR) is currently -86.62%.

Insider Activity

In other Tamarack Valley Energy news, Director Rene Amirault acquired 78,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the transaction, the director owned 454,602 shares of the company's stock, valued at C$5,950,740.18. This trade represents a 20.87% increase in their ownership of the stock. Also, Director Shannon Joseph bought 27,521 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the purchase, the director owned 66,376 shares in the company, valued at C$833,682.56. This represents a 70.83% increase in their position. 1.32% of the stock is currently owned by company insiders.

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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