Key Points
- Insider buying: Kevin James Johnston purchased 7,500 Tamarack Valley Energy shares at an average C$13.44, investing C$100,800 and increasing his direct stake by 7.73% to 104,491 shares.
- Dividend increased: The company raised its quarterly dividend from $0.04 to $0.05 per share, equivalent to an annualized $0.20 dividend and a 1.5% yield.
- Analyst sentiment remains positive: Ten analysts rate the stock a Buy, with a consensus target price of C$13.93, while several firms recently raised their targets to between C$15.25 and C$17.00.
Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) insider Kevin James Johnston purchased 7,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was purchased at an average price of C$13.44 per share, with a total value of C$100,800.00. Following the acquisition, the insider directly owned 104,491 shares of the company's stock, valued at C$1,404,359.04. This trade represents a 7.73% increase in their position.
Tamarack Valley Energy Trading Down 0.7%
TVE opened at C$13.42 on Friday. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The stock's fifty day moving average is C$13.34 and its two-hundred day moving average is C$12.47. The company has a market capitalization of C$6.37 billion, a P/E ratio of 191.71 and a beta of 0.26. Tamarack Valley Energy Ltd has a 52 week low of C$5.84 and a 52 week high of C$14.42.
Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. The business had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. Analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.
Tamarack Valley Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. This is a boost from Tamarack Valley Energy's previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 15th. Tamarack Valley Energy's payout ratio is 225.24%.
Analyst Upgrades and Downgrades
TVE has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a "buy" rating in a 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 company an "outperform" rating in a research report on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Canadian Imperial Bank of Commerce raised their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an "outperformer" rating in a report on Friday, May 29th. Finally, Desjardins raised their price target on shares of 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. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$13.93.
View Our Latest Report on TVE
About Tamarack Valley Energy
(
Get Free Report)
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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