Key Points
- Director Caralyn Patricia Bennett purchased 36,568 Tamarack Valley Energy shares at C$13.26 each, investing approximately C$484,892 and increasing her direct ownership by 27.57% to 169,192 shares.
- Tamarack Valley reported quarterly earnings of C$0.43 per share on revenue of C$493.95 million. The company also raised its quarterly dividend from C$0.04 to C$0.05, implying a 1.5% yield.
- Analysts remain broadly bullish, with all 10 covering analysts rating the stock a Buy and an average price target of C$13.93; several firms recently raised their targets to between C$16.00 and C$17.00.
Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) Director Caralyn Patricia Bennett purchased 36,568 shares of the stock in a transaction on Monday, September 21st. The shares were bought at an average cost of C$13.26 per share, for a total transaction of C$484,891.68. Following the transaction, the director directly owned 169,192 shares in the company, valued at approximately C$2,243,485.92. The trade was a 27.57% increase in their ownership of the stock.
Tamarack Valley Energy Trading Down 2.3%
Tamarack Valley Energy stock opened at C$13.26 on Tuesday. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The stock has a 50-day simple moving average of C$13.35 and a 200 day simple moving average of C$12.51. The stock has a market capitalization of C$6.28 billion, a P/E ratio of 189.43 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 issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The company had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. Analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.
Tamarack Valley Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 1.5%. This is an increase from Tamarack Valley Energy's previous quarterly dividend of $0.04. Tamarack Valley Energy's payout ratio is currently 225.24%.
Analyst Upgrades and Downgrades
TVE has been the topic of several research reports. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Desjardins boosted their price target on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Canadian Imperial Bank of Commerce increased their price objective 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. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a "buy" rating in a report on Tuesday, August 18th. Finally, Raymond James Financial upped their price target on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Wednesday, September 9th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$13.93.
Read Our Latest Stock Analysis on Tamarack Valley Energy
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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