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

Tamarack Valley Energy Ltd (TSE:TVE) announced 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 3.82%. The ex-dividend date is Friday, September 27th.

Tamarack Valley Energy Price Performance

Shares of TVE opened at C$4.08 on Thursday. The firm’s 50-day simple moving average is C$3.90 and its two-hundred day simple moving average is C$3.79. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The stock has a market cap of C$2.22 billion, a PE ratio of 17.74 and a beta of 2.50. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. The company had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. Analysts anticipate that Tamarack Valley Energy will post 0.1252453 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Senior Officer Brian Leslie Schmidt bought 30,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of C$3.86 per share, with a total value of C$115,800.00. In other Tamarack Valley Energy news, Senior Officer Scott Shimek purchased 51,130 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average price of C$3.70 per share, for a total transaction of C$189,181.00. Also, Senior Officer Brian Leslie Schmidt bought 30,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were bought at an average price of C$3.86 per share, with a total value of C$115,800.00. In the last three months, insiders acquired 107,080 shares of company stock valued at $404,323. Insiders own 1.30% 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.