Tamarack Valley Energy (TSE:TVE) Stock Price Up 1.1% - Here's What Happened

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares traded up 1.1% during mid-day trading on Friday . The company traded as high as C$3.82 and last traded at C$3.76. 1,711,414 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 2,188,511 shares. The stock had previously closed at C$3.72.

Wall Street Analyst Weigh In

Several brokerages have commented on TVE. CIBC cut their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. Desjardins downgraded shares of Tamarack Valley Energy from a "buy" rating to a "hold" rating and reduced their price target for the stock from C$6.00 to C$5.25 in a research note on Wednesday, March 19th. Finally, BMO Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Tamarack Valley Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.69.

Tamarack Valley Energy Stock Down 2.2 %

The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 9.12 and a beta of 2.49. The company has a 50-day moving average of C$4.01 and a 200-day moving average of C$4.30.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.0127 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.15 dividend on an annualized basis and a yield of 4.28%. Tamarack Valley Energy's payout ratio is 38.41%.

Insider Activity

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 84,734 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of C$4.55 per share, for a total transaction of C$385,539.70. Also, Senior Officer Steven Buytels acquired 8,065 shares of the company's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of C$3.66 per share, for a total transaction of C$29,517.90. Insiders have purchased 223,384 shares of company stock valued at $900,589 over the last ninety days. 1.32% of the stock is currently 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.