Robert Spitzer Acquires 31,985 Shares of Tamarack Valley Energy Ltd (TSE:TVE) Stock

Tamarack Valley Energy Ltd (TSE:TVE) Director Robert Spitzer purchased 31,985 shares of Tamarack Valley Energy stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of C$4.19 per share, with a total value of C$134,017.15.

Tamarack Valley Energy Stock Performance

TVE stock traded down C$0.28 during midday trading on Thursday, hitting C$4.17. 1,262,552 shares of the company traded hands, compared to its average volume of 2,120,590. The business has a 50 day simple moving average of C$4.36 and a 200-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 Ltd has a twelve month low of C$3.44 and a twelve month high of C$5.05. The stock has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 10.68 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a $0.0127 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.15 annualized dividend and a dividend yield of 3.65%. Tamarack Valley Energy’s dividend payout ratio is 38.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TVE shares. Desjardins downgraded shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. CIBC lifted their price objective on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Finally, National Bankshares cut their price target on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Tamarack Valley Energy has an average 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.