Tamarack Valley Energy (TSE:TVE) Reaches New 12-Month High Following Dividend Announcement

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as C$4.70 and last traded at C$4.67, with a volume of 221072 shares traded. The stock had previously closed at C$4.60.

The newly announced dividend which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Monday, December 30th. Tamarack Valley Energy’s payout ratio is 65.22%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a research report on Friday, December 13th. National Bankshares lowered their price objective on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a report on Thursday, December 19th. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, CIBC raised their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and an average price target of C$5.48.

Tamarack Valley Energy Price Performance

The stock has a market capitalization of C$2.57 billion, a P/E ratio of 20.57 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The firm has a fifty day moving average price of C$4.34 and a two-hundred day moving average price of C$4.04.

Insiders Place Their Bets

In other news, Director Marnie Smith sold 9,668 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total value of C$42,732.56. Insiders own 1.32% of the company’s stock.

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.