Insider Buying: Tamarack Valley Energy Ltd (TSE:TVE) Director Purchases 31,985 Shares of Stock

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) Director Robert Spitzer purchased 31,985 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of C$4.19 per share, for a total transaction of C$134,017.15.

Tamarack Valley Energy Stock Down 6.4 %

Shares of TSE:TVE traded down C$0.23 during midday trading on Tuesday, reaching C$3.36. 2,106,372 shares of the company were exchanged, compared to its average volume of 2,166,613. The firm has a market cap of C$1.77 billion, a PE ratio of 8.60 and a beta of 2.49. Tamarack Valley Energy Ltd has a fifty-two week low of C$3.23 and a fifty-two week high of C$5.05. The stock has a fifty day simple moving average of C$4.31 and a two-hundred day simple moving average of C$4.35. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a dividend of $0.0127 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.15 annualized dividend and a dividend yield of 4.54%. Tamarack Valley Energy's dividend payout ratio is currently 38.41%.

Analysts Set New Price Targets

A number of analysts have commented on TVE shares. CIBC lifted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a report on Friday, January 17th. National Bankshares cut their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Desjardins lowered Tamarack Valley Energy from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. Finally, BMO Capital Markets upped their price target on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$5.81.

Tamarack Valley Energy Company Profile

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.