Key Points
- Insider Steven Buytels bought 5,000 shares at C$11.88 each, a C$59,400 purchase that increased his holdings by 1.07% to 471,742 shares.
- Tamarack reported quarterly earnings of C$0.28 per share and revenue of C$365.81 million. It also raised its quarterly dividend from C$0.04 to C$0.05 per share.
- Analysts’ consensus rating was Buy, with a consensus price target of C$15.08; 11 analysts rated the stock Buy.
Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) insider Steven Buytels purchased 5,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was bought at an average cost of C$11.88 per share, with a total value of C$59,400.00. Following the transaction, the insider owned 471,742 shares in the company, valued at C$5,604,294.96. The trade was a 1.07% increase in their ownership of the stock.
Tamarack Valley Energy Stock Down 1.7%
Shares of Tamarack Valley Energy stock opened at C$11.18 on Tuesday. The company has a 50-day simple moving average of C$13.58 and a two-hundred day simple moving average of C$12.28. The stock has a market capitalization of C$5.25 billion, a PE ratio of 14.71 and a beta of 0.53. Tamarack Valley Energy Ltd has a 52-week low of C$6.60 and a 52-week high of C$15.16. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.80 and a current ratio of 1.95.
Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported C$0.28 earnings per share for the quarter. The company had revenue of C$365.81 million during the quarter. Tamarack Valley Energy had a net margin of 22.34% and a return on equity of 20.30%. On average, analysts anticipate that Tamarack Valley Energy Ltd will post 0.14 EPS for the current fiscal year.
Tamarack Valley Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were paid a $0.05 dividend. 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 1.8%. The ex-dividend date was Tuesday, September 15th. Tamarack Valley Energy's dividend payout ratio (DPR) is presently 22.29%.
Wall Street Analyst Weigh In
TVE has been the topic of several research analyst reports. Raymond James Financial increased their price target on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an "outperform" rating in a report on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Royal Bank Of Canada upped their price target on shares of 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. Scotiabank set a C$17.00 target price on shares of Tamarack Valley Energy and gave the company a "sector outperform" rating in a research report on Wednesday, September 30th. Finally, ATB Cormark Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Eleven research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$15.08.
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Tamarack Valley Energy Company Profile
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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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