Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) announced a monthly dividend on Wednesday, May 15th, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.013 per share on Friday, June 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Tamarack Valley Energy's previous monthly dividend of $0.01.
Tamarack Valley Energy Stock Performance
TVE traded up C$0.02 on Friday, reaching C$3.69. The company had a trading volume of 731,714 shares, compared to its average volume of 2,157,443. 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$2.02 billion, a P/E ratio of 21.71 and a beta of 2.59. The company's fifty day moving average is C$3.81 and its 200 day moving average is C$3.50. The company has a debt-to-equity ratio of 43.65, a quick ratio of 0.80 and a current ratio of 0.52.
Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a net margin of 6.70% and a return on equity of 4.34%. The firm had revenue of C$418.86 million for the quarter. As a group, analysts predict that Tamarack Valley Energy will post 0.2200474 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on TVE. Desjardins raised their price target on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a "buy" rating in a research note on Friday, March 22nd. BMO Capital Markets set a C$4.00 price objective on shares of Tamarack Valley Energy and gave the stock a "market perform" rating in a research report on Thursday, March 21st. Cormark lifted their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Thursday, May 9th. Finally, Royal Bank of Canada boosted their price target on shares of Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$4.95.
Read Our Latest Report on Tamarack Valley Energy
Insiders Place Their Bets
In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, with a total value of C$30,789.15. In other news, Senior Officer Scott Shimek acquired 8,500 shares of the business's stock in a transaction dated Wednesday, April 3rd. The shares were bought at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt bought 8,673 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of C$3.55 per share, for a total transaction of C$30,789.15. Insiders have acquired 47,718 shares of company stock worth $178,867 over the last three months. Company insiders own 1.21% of the company's stock.
About Tamarack Valley Energy
(
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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.
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