Tamarack Valley Energy Ltd to Issue Monthly Dividend of $0.01 (TSE:TVE)

Tamarack Valley Energy Ltd (TSE:TVE) declared a monthly dividend on Monday, July 15th, Zacks reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.013 per share on Thursday, August 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Wednesday, July 31st.

Tamarack Valley Energy Stock Up 0.2 %

Shares of TVE opened at C$4.04 on Tuesday. The stock has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 36.73 and a beta of 2.59. The company has a debt-to-equity ratio of 45.81, a quick ratio of 0.80 and a current ratio of 0.67. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34. The stock has a fifty day moving average of C$3.73 and a 200-day moving average of C$3.60.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, May 8th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.10). The company had revenue of C$393.34 million for the quarter. Tamarack Valley Energy had a return on equity of 2.78% and a net margin of 4.16%. As a group, sell-side analysts anticipate that Tamarack Valley Energy will post 0.1714964 earnings per share for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other news, Director Caralyn Patricia Bennett bought 10,193 shares of the company’s stock in a transaction on Monday, May 27th. The shares were purchased at an average price of C$3.57 per share, with a total value of C$36,403.28. In other news, Senior Officer Scott Shimek bought 36,667 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of C$3.54 per share, with a total value of C$129,845.18. Also, Director Caralyn Patricia Bennett purchased 10,193 shares of the stock in a transaction that occurred on Monday, May 27th. The stock was bought at an average cost of C$3.57 per share, for a total transaction of C$36,403.28. In the last quarter, insiders have acquired 143,560 shares of company stock valued at $526,970. 1.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price target on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Thursday, May 9th. CIBC increased their price target on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. Cormark increased their price target on Tamarack Valley Energy from C$4.75 to C$5.00 in a report on Thursday, May 9th. Canaccord Genuity Group increased their price target on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Desjardins set a C$5.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.