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

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Monday, April 15th, TickerTech reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.0125 per share on Wednesday, May 15th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Monday, April 29th.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock traded up C$0.04 during midday trading on Wednesday, reaching C$3.89. 571,321 shares of the stock traded hands, compared to its average volume of 2,256,697. The stock has a market cap of C$2.12 billion, a P/E ratio of 22.65 and a beta of 2.59. The stock’s fifty day moving average is C$3.59 and its 200-day moving average is C$3.50. The company has a quick ratio of 0.80, a current ratio of 0.52 and a debt-to-equity ratio of 43.39. Tamarack Valley Energy has a 12 month low of C$2.76 and a 12 month high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, February 28th. The company reported C$0.10 EPS for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The firm had revenue of C$418.86 million during the quarter. As a group, equities research analysts anticipate that Tamarack Valley Energy will post 0.2799189 EPS for the current year.

Analysts Set New Price Targets

TVE has been the subject of a number of recent research reports. CIBC dropped their price objective on shares of Tamarack Valley Energy from C$5.25 to C$4.50 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research note on Friday, March 22nd. National Bankshares lifted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Stifel Nicolaus raised their price target on shares of Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the company a “market perform” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tamarack Valley Energy has an average rating of “Moderate Buy” and a consensus target price of C$4.88.

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga bought 21,150 shares of Tamarack Valley Energy stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of C$3.74 per share, for a total transaction of C$79,012.17. In related news, Senior Officer Christine Ezinga bought 21,150 shares of the stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of C$3.74 per share, for a total transaction of C$79,012.17. Also, Senior Officer Brian Leslie Schmidt purchased 9,395 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of C$3.66 per share, with a total value of C$34,385.70. In the last three months, insiders have bought 47,718 shares of company stock worth $178,867. Insiders own 1.15% of the company’s stock.

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.