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

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) declared a monthly dividend on Wednesday, April 30th, TickerTech Dividends reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.0127 per share on Thursday, May 15th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, April 30th.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE traded down C$0.01 during mid-day trading on Thursday, reaching C$3.56. The company had a trading volume of 1,935,525 shares, compared to its average volume of 2,156,991. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$5.05. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company's 50-day moving average price is C$3.99 and its 200-day moving average price is C$4.30. The firm has a market cap of C$1.88 billion, a price-to-earnings ratio of 9.12 and a beta of 2.49.

Insiders Place Their Bets

In related news, Senior Officer Kevin James Johnston bought 15,000 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of C$3.29 per share, with a total value of C$49,350.00. Also, Senior Officer Steven Buytels purchased 8,065 shares of Tamarack Valley Energy stock in a transaction dated Friday, April 4th. The shares were bought at an average price of C$3.66 per share, with a total value of C$29,517.90. Insiders purchased 223,384 shares of company stock worth $900,589 over the last three months. Company insiders own 1.32% of the company's stock.

Analysts Set New Price Targets

TVE has been the subject of several analyst reports. Desjardins lowered shares of Tamarack Valley Energy from a "buy" rating to a "hold" rating and cut their price target for the company from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research report on Thursday, February 13th. Finally, CIBC cut their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of "Moderate Buy" and a consensus price target of C$5.69.

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.