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

Tamarack Valley Energy Ltd (TSE:TVE) declared a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.0127 per share on Monday, December 16th. This represents a $0.15 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, November 29th. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01.

Tamarack Valley Energy Price Performance

TVE remained flat at C$4.40 on Wednesday. 572,974 shares of the company were exchanged, compared to its average volume of 2,445,470. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 52-week low of C$2.76 and a 52-week high of C$4.62. The company has a market cap of C$2.39 billion, a PE ratio of 19.17 and a beta of 2.49. The stock’s 50-day simple moving average is C$4.17 and its 200-day simple moving average is C$3.92.

Wall Street Analyst Weigh In

Several analysts have commented on TVE shares. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. National Bankshares lifted their price target on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. CIBC lifted their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$5.23.

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.