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. Shareholders of record on Monday, December 16th will be given 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 3.46%. 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

TSE TVE traded up C$0.01 during trading hours on Wednesday, reaching C$4.41. The company’s stock had a trading volume of 393,944 shares, compared to its average volume of 2,444,480. The firm has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 19.13 and a beta of 2.49. The company’s 50-day moving average is C$4.17 and its two-hundred day moving average is C$3.92. 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 1-year low of C$2.76 and a 1-year high of C$4.62.

Analyst Ratings Changes

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