Tamarack Valley Energy (TSE:TVE) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Tamarack Valley Energy Ltd (TSE:TVE)’s share price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$12.24 and traded as low as C$11.71. Tamarack Valley Energy shares last traded at C$11.76, with a volume of 4,340,179 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group set a C$17.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Desjardins upped their target price on shares of 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. 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 note on Wednesday, September 30th. Raymond James Financial raised their target price on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. 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 report on Thursday, October 22nd. Eleven analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$15.08.

Tamarack Valley Energy Trading Down 8.8%

The business’s 50-day moving average price is C$13.72 and its two-hundred day moving average price is C$12.24. The company has a market capitalization of C$5.52 billion, a P/E ratio of 15.47 and a beta of 0.53. The company has a debt-to-equity ratio of 17.31, a current ratio of 1.95 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data 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 business had revenue of C$365.81 million for the quarter. As a group, analysts forecast 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. Investors of record on Wednesday, September 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.7%. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, September 15th. Tamarack Valley Energy’s payout ratio is currently 22.29%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Caralyn Patricia Bennett bought 36,568 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average cost of C$13.26 per share, for a total transaction of C$484,891.68. Following the completion of the acquisition, the director owned 169,192 shares in the company, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston bought 7,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the completion of the acquisition, the insider owned 104,491 shares of the company’s stock, valued at C$1,404,359.04. The trade was a 7.73% increase in their position. Insiders purchased 55,458 shares of company stock valued at $744,227 over the last three months. 1.32% of the stock is owned by company insiders.

About Tamarack Valley Energy

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.