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

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

Tamarack Valley Energy Price Performance

Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.35. 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 company has a market capitalization of C$2.25 billion, a PE ratio of 18.35 and a beta of 2.50. The company has a fifty day simple moving average of C$3.92 and a 200-day simple moving average of C$3.80.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million for the quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. CIBC increased their price objective on Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Monday, July 15th. Desjardins set a C$5.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.00.

Insiders Place Their Bets

In related news, Senior Officer Christine Ezinga purchased 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of C$3.67 per share, with a total value of C$29,367.20. In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 30,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were bought at an average cost of C$3.86 per share, for a total transaction of C$115,800.00. Also, Senior Officer Christine Ezinga bought 8,000 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of C$3.67 per share, for a total transaction of C$29,367.20. Over the last three months, insiders purchased 55,950 shares of company stock valued at $215,142. 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.