Tamarack Valley Energy Ltd (TSE:TVE) Director Buys C$18,105.12 in Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Shannon Joseph bought 4,950 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of C$3.66 per share, with a total value of C$18,105.12.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock traded down C$0.02 during trading hours on Friday, hitting C$3.84. 1,303,901 shares of the company traded hands, compared to its average volume of 2,165,336. Tamarack Valley Energy Ltd has a 1-year low of C$2.76 and a 1-year high of C$4.34. The firm has a market cap of C$2.09 billion, a P/E ratio of 16.70 and a beta of 2.51. The firm’s 50-day simple moving average is C$3.76 and its two-hundred day simple moving average is C$3.64. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, May 8th. The company reported C($0.06) EPS for the quarter, missing the consensus estimate of C$0.04 by C($0.10). The firm had revenue of C$393.34 million for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. As a group, analysts forecast that Tamarack Valley Energy Ltd will post 0.1262263 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.013 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.16 annualized dividend and a yield of 4.06%. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TVE. Cormark increased their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a report on Thursday, May 9th. Stifel Nicolaus raised their target price on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Thursday, May 9th. CIBC upped their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. Desjardins set a C$5.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Canaccord Genuity Group upped their price objective on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.00.

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.