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

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.0127 per share on Friday, February 14th. This represents a $0.15 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, January 31st.

Tamarack Valley Energy Price Performance

TSE TVE traded down C$0.03 during trading on Wednesday, hitting C$4.47. 215,750 shares of the stock traded hands, compared to its average volume of 1,998,126. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 12-month low of C$2.90 and a 12-month high of C$5.05. The firm has a 50-day simple moving average of C$4.58 and a 200-day simple moving average of C$4.20. The company has a market capitalization of C$2.43 billion, a P/E ratio of 19.43 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Thursday, October 31st. The company reported C$0.17 earnings per share for 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 0.1386527 EPS for the current year.

Insider Buying and Selling

In other news, Director Marnie Smith sold 9,668 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Acumen Capital upped their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. BMO Capital Markets boosted their target price on Tamarack Valley Energy from C$5.50 to C$6.00 in a research report on Friday, December 13th. Royal Bank of Canada raised 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 report on Friday, November 1st. Finally, CIBC boosted their price objective on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.70.

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.