Tamarack Valley Energy Ltd (TSE:TVE) Increases Dividend to $0.01 Per Share

Tamarack Valley Energy Ltd (TSE:TVE) declared a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Investors 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01.

Tamarack Valley Energy Stock Performance

Shares of TVE stock traded down C$0.02 during trading hours on Wednesday, reaching C$4.38. 510,659 shares of the company’s stock were exchanged, compared to its average volume of 2,444,951. The company’s 50 day moving average is C$4.17 and its two-hundred day moving average is C$3.92. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.62. The company has a market cap of C$2.38 billion, a P/E ratio of 19.17 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. CIBC upped their target price on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. Raymond James raised Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. National Bankshares boosted their target price on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Acumen Capital upped their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and an average target price of C$5.23.

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.