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

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Friday, February 28th, TickerTech Dividends reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.0127 per share on Friday, March 14th. This represents a $0.15 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, February 28th.

Tamarack Valley Energy Price Performance

Shares of TVE traded up C$0.07 during mid-day trading on Wednesday, reaching C$4.41. The stock had a trading volume of 405,401 shares, compared to its average volume of 2,052,030. The business has a fifty day moving average of C$4.60 and a 200 day moving average of C$4.29. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The firm has a market cap of C$2.33 billion, a price-to-earnings ratio of 11.29 and a beta of 2.49. Tamarack Valley Energy has a 12 month low of C$3.31 and a 12 month high of C$5.05.

Insider Buying and Selling

In other Tamarack Valley Energy 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 value of C$42,732.56. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TVE shares. Acumen Capital upped their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, CIBC raised their price objective on 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$5.75.

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.