Insider Buying: Tamarack Valley Energy Ltd (TSE:TVE) Director Purchases C$26,250.00 in Stock

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Tamarack Valley Energy Ltd (TSE:TVE) Director John Glenn Leach bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of C$1.05 per share, with a total value of C$26,250.00. Following the completion of the transaction, the director now directly owns 55,036 shares of the company’s stock, valued at approximately C$57,787.80.

TVE stock opened at C$0.99 on Friday. Tamarack Valley Energy Ltd has a one year low of C$0.39 and a one year high of C$2.44. The company’s fifty day moving average price is C$0.92 and its 200-day moving average price is C$0.95. The company has a debt-to-equity ratio of 44.77, a quick ratio of 0.66 and a current ratio of 1.04. The company has a market capitalization of $181.10 million and a PE ratio of -0.65.

Several equities analysts have weighed in on TVE shares. National Bank Financial lifted their price target on shares of Tamarack Valley Energy from C$1.25 to C$1.50 and gave the company an “outperform” rating in a report on Wednesday, June 24th. Cormark lifted their price target on shares of Tamarack Valley Energy from C$1.40 to C$1.65 in a report on Friday, July 17th. CIBC lifted their price target on shares of Tamarack Valley Energy from C$1.50 to C$1.75 in a report on Monday, July 13th. Finally, Raymond James set a C$1.00 price target on shares of Tamarack Valley Energy and gave the company a “market perform” rating in a report on Monday, July 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of C$2.01.

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.

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