Tamarack Valley Energy Ltd (TSE:TVE) Announces $0.01 Monthly Dividend

Tamarack Valley Energy Ltd (TSE:TVE) declared a monthly dividend on Tuesday, September 17th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.013 per share on Tuesday, October 15th. This represents a $0.16 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, September 27th.

Tamarack Valley Energy Stock Performance

Shares of TVE opened at C$4.08 on Thursday. The firm’s fifty day simple moving average is C$3.90 and its two-hundred day simple moving average is C$3.79. Tamarack Valley Energy has a 12 month low of C$2.76 and a 12 month high of C$4.34. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The stock has a market capitalization of C$2.22 billion, a P/E ratio of 17.74 and a beta of 2.50.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. The company had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. As a group, analysts predict that Tamarack Valley Energy will post 0.1252453 EPS for the current year.

Insider Activity

In other news, Senior Officer Scott Shimek acquired 51,130 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were acquired at an average price of C$3.70 per share, for a total transaction of C$189,181.00. In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 30,000 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, July 3rd. The stock was acquired at an average cost of C$3.86 per share, for a total transaction of C$115,800.00. Also, Senior Officer Scott Shimek acquired 51,130 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were bought at an average cost of C$3.70 per share, with a total value of C$189,181.00. Insiders acquired a total of 107,080 shares of company stock valued at $404,323 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TVE. CIBC boosted their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th. Desjardins set a C$5.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$5.00.

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.