Tamarack Valley Energy (TSE:TVE) Stock: Insider Steven Buytels Buys 5,000 Shares

Tamarack Valley Energy Ltd (TSE:TVE – Get Free Report) insider Steven Buytels acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were bought at an average cost of C$11.88 per share, with a total value of C$59,400.00. Following the purchase, the insider owned 471,742 shares of the company’s stock, valued at approximately C$5,604,294.96. This trade represents a 1.07% increase in their position.

Tamarack Valley Energy Stock Up 2.2%

Shares of Tamarack Valley Energy stock opened at C$11.43 on Wednesday. The company’s 50 day moving average price is C$13.54 and its 200-day moving average price is C$12.30. Tamarack Valley Energy Ltd has a 52-week low of C$6.79 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. The stock has a market capitalization of C$5.37 billion, a price-to-earnings ratio of 15.04 and a beta of 0.53.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last posted its earnings results 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%. Equities research analysts forecast that Tamarack Valley Energy Ltd will post 0.14 EPS for the current year.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. 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 dividend payout ratio is currently 22.29%.

Analyst Ratings Changes

TVE has been the topic of a number of research analyst reports. Scotiabank set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the company a “sector outperform” rating in a research report on Wednesday, September 30th. Desjardins raised their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. ATB Cormark Capital Markets lifted their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Royal Bank Of Canada boosted 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. Finally, Raymond James Financial increased their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research 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 an average price target of C$15.08.

Read Our Latest Stock 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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