Tamarack Valley Energy Ltd (TVE) to Issue Monthly Dividend of $0.01 on August 15th

Tamarack Valley Energy Ltd (TSE:TVE) announced a monthly dividend on Monday, July 15th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.013 per share on Thursday, August 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Wednesday, July 31st.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE opened at C$4.03 on Monday. The stock has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 36.64 and a beta of 2.59. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34. The company has a 50 day moving average price of C$3.72 and a 200 day moving average price of C$3.59. The company has a debt-to-equity ratio of 45.81, a quick ratio of 0.80 and a current ratio of 0.67.

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

Insider Activity

In other news, Senior Officer Brian Leslie Schmidt acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was acquired at an average cost of C$3.86 per share, for a total transaction of C$115,800.00. In other news, Senior Officer Brian Leslie Schmidt acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were purchased at an average price of C$3.86 per share, for a total transaction of C$115,800.00. Also, Director Caralyn Patricia Bennett bought 10,193 shares of Tamarack Valley Energy stock in a transaction on Monday, May 27th. The stock was acquired at an average price of C$3.57 per share, with a total value of C$36,403.28. Insiders have purchased a total of 143,560 shares of company stock worth $526,970 in the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Canaccord Genuity Group boosted their price objective on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Stifel Nicolaus boosted their price target on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Thursday, May 9th. Cormark upped their price target on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research report on Thursday, May 9th. Desjardins set a C$5.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, CIBC increased their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. One equities 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.com, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.00.

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.