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

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Friday, June 14th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.013 per share on Monday, July 15th. This represents a $0.16 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, June 28th.

Tamarack Valley Energy Trading Down 0.8 %

TVE stock opened at C$3.51 on Friday. The company has a debt-to-equity ratio of 45.81, a current ratio of 0.67 and a quick ratio of 0.80. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34. The business has a 50 day simple moving average of C$3.75 and a two-hundred day simple moving average of C$3.46. The company has a market capitalization of C$1.94 billion, a price-to-earnings ratio of 31.91 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.10). Tamarack Valley Energy had a net margin of 4.16% and a return on equity of 2.78%. The company had revenue of C$393.34 million for the quarter. Research analysts anticipate that Tamarack Valley Energy will post 0.1714964 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TVE has been the subject of a number of research analyst reports. BMO Capital Markets set a C$4.00 price objective on shares of Tamarack Valley Energy and gave the company a “market perform” rating in a report on Thursday, March 21st. CIBC raised their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.25 and gave the company an “outperform” rating in a report on Monday, April 22nd. Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a “buy” rating in a report on Wednesday, April 17th. Desjardins raised their target price on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Cormark raised their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$4.95.

Insiders Place Their Bets

In other news, Senior Officer Scott Shimek acquired 8,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was bought at an average cost of C$4.08 per share, with a total value of C$34,680.00. In other Tamarack Valley Energy news, Director Caralyn Patricia Bennett bought 10,193 shares of the firm’s stock in a transaction dated Monday, May 27th. The stock was acquired at an average cost of C$3.57 per share, for a total transaction of C$36,403.28. Also, Senior Officer Scott Shimek bought 8,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average price of C$4.08 per share, with a total value of C$34,680.00. Insiders bought 55,413 shares of company stock valued at $205,836 over the last three months. 1.21% of the stock is owned by company insiders.

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.