Key Points
- Insider buying: Kevin James Johnston purchased 4,000 Tamarack Valley Energy shares at C$13.59 each for C$54,360, increasing his position by 3.34% to 123,629 shares. He has also bought 14,500 shares in two earlier transactions.
- Financial and dividend update: Tamarack Valley reported quarterly EPS of C$0.28 on revenue of C$365.81 million and increased its quarterly dividend to C$0.05, or C$0.20 annually, yielding about 1.5%.
- Market outlook: The stock opened at C$13.02 after declining 7.6%, while all 11 analysts tracked rated it a Buy and the consensus price target stood at C$15.08.
Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) insider Kevin James Johnston purchased 4,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of C$13.59 per share, for a total transaction of C$54,360.00. Following the completion of the purchase, the insider owned 123,629 shares in the company, valued at C$1,680,118.11. This trade represents a 3.34% increase in their position.
Kevin James Johnston also recently made the following trade(s):
- On Friday, October 30th, Kevin James Johnston purchased 7,000 shares of Tamarack Valley Energy stock. The stock was purchased at an average price of C$14.13 per share, for a total transaction of C$98,910.00.
- On Thursday, September 17th, Kevin James Johnston acquired 7,500 shares of Tamarack Valley Energy stock. The stock was purchased at an average cost of C$13.44 per share, with a total value of C$100,800.00.
Tamarack Valley Energy Trading Down 7.6%
TSE TVE opened at C$13.02 on Tuesday. The company has a market cap of C$6.12 billion, a price-to-earnings ratio of 17.13 and a beta of 0.41. Tamarack Valley Energy Ltd has a 52 week low of C$6.06 and a 52 week high of C$15.16. The business has a 50 day moving average price of C$13.77 and a 200-day moving average price of C$12.20. The company has a quick ratio of 0.80, a current ratio of 1.95 and a debt-to-equity ratio of 17.31.
Tamarack Valley Energy (TSE:TVE - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported C$0.28 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 20.30% and a net margin of 22.34%. The company had revenue of C$365.81 million for the quarter. As a group, equities analysts expect that Tamarack Valley Energy Ltd will post 0.14 earnings per share for the current fiscal year.
Tamarack Valley Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Tamarack Valley Energy's previous quarterly dividend of $0.04. Tamarack Valley Energy's payout ratio is 22.29%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TVE shares. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a "buy" rating in a research note on Tuesday, August 18th. ATB Cormark Capital Markets lifted their target price on Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Desjardins lifted their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Royal Bank Of Canada increased their price target on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an "outperform" rating in a research report on Wednesday, October 21st. Finally, Raymond James Financial lifted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, September 9th. Eleven analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$15.08.
View Our Latest Report 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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