Tamarack Valley Energy Ltd (TVE) to Issue Monthly Dividend of $0.01 on December 15th

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Thursday, November 30th will be paid a dividend of 0.013 per share on Friday, December 15th. This represents a $0.16 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, November 29th.

Tamarack Valley Energy Stock Down 3.6 %

TSE:TVE opened at C$3.72 on Friday. The stock has a 50-day simple moving average of C$3.90 and a 200 day simple moving average of C$3.64. Tamarack Valley Energy has a 52-week low of C$2.99 and a 52-week high of C$5.30. The company has a market cap of C$2.07 billion, a PE ratio of 28.62 and a beta of 2.53. The company has a debt-to-equity ratio of 59.64, a quick ratio of 0.80 and a current ratio of 0.87.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Thursday, October 26th. The company reported C$0.02 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.11). Tamarack Valley Energy had a net margin of 6.30% and a return on equity of 4.43%. The business had revenue of C$506.37 million during the quarter. On average, sell-side analysts expect that Tamarack Valley Energy will post 0.3473968 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Monday, October 23rd. National Bankshares lifted their target price on Tamarack Valley Energy from C$6.25 to C$7.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Raymond James increased their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. Desjardins raised their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company a “buy” rating in a report on Monday, September 18th. Finally, Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Friday, October 20th.

Insider Activity

In related news, Director John Rooney bought 50,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was purchased at an average price of C$3.40 per share, with a total value of C$169,945.00. Corporate insiders own 1.05% of the company’s stock.

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.