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

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 paid a dividend of 0.0127 per share on Friday, March 14th. This represents a $0.15 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 28th.

Tamarack Valley Energy Stock Up 1.4 %

Shares of TSE TVE traded up C$0.06 during mid-day trading on Wednesday, reaching C$4.40. 477,765 shares of the company were exchanged, compared to its average volume of 2,053,259. The firm has a 50-day moving average of C$4.60 and a 200 day moving average of C$4.29. Tamarack Valley Energy has a 1 year low of C$3.31 and a 1 year high of C$5.05. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The stock has a market cap of C$2.32 billion, a price-to-earnings ratio of 11.27 and a beta of 2.49.

Insider Activity at Tamarack Valley Energy

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. CIBC upped their target price on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Canaccord Genuity Group increased their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. BMO Capital Markets raised their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. National Bankshares dropped their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Royal Bank of Canada raised 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 report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and an average target price of C$5.75.

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.