Tamarack Valley Energy (TSE:TVE) Reaches New 12-Month High After Dividend Announcement

Tamarack Valley Energy Ltd (TSE:TVE) shares hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as C$4.70 and last traded at C$4.67, with a volume of 221072 shares traded. The stock had previously closed at C$4.60.

The newly announced dividend which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be paid a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Monday, December 30th. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TVE. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. National Bankshares reduced their price target on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Acumen Capital lifted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$5.48.

Tamarack Valley Energy Price Performance

The firm has a market capitalization of C$2.54 billion, a PE ratio of 20.30 and a beta of 2.49. The firm has a 50 day moving average price of C$4.32. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$4.42, for a total value of C$42,732.56. 1.32% of the stock is owned by insiders.

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.