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

Tamarack Valley Energy Ltd (TSE:TVE – Get Rating) declared a monthly dividend on Thursday, April 14th, Zacks reports. Shareholders of record on Friday, April 29th will be given a dividend of 0.008 per share on Friday, May 13th. This represents a $0.10 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, April 28th.

TVE stock opened at C$5.06 on Friday. Tamarack Valley Energy has a 52 week low of C$2.05 and a 52 week high of C$6.09. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 38.73. The company has a fifty day simple moving average of C$5.07 and a two-hundred day simple moving average of C$4.25. The firm has a market capitalization of C$2.19 billion and a P/E ratio of 4.69.

Several equities analysts have commented on TVE shares. Raymond James increased their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company a “strong-buy” rating in a research report on Friday, March 25th. Stifel Nicolaus reissued a “buy” rating and issued a C$6.50 target price on shares of Tamarack Valley Energy in a research note on Tuesday, February 1st. Royal Bank of Canada increased their target price on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research note on Friday, March 4th. Canaccord Genuity Group increased their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Friday, January 14th. Finally, ATB Capital increased their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.25 and gave the company a “na” rating in a research note on Thursday, December 16th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Buy” and an average target price of C$5.75.

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 50,000 shares of the business’s stock in a transaction on Monday, March 14th. The shares were acquired at an average price of C$5.00 per share, with a total value of C$250,000.00. Following the transaction, the insider now owns 2,206,683 shares of the company’s stock, valued at approximately C$11,033,415. Also, Director Robert Spitzer bought 32,685 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were acquired at an average cost of C$5.42 per share, for a total transaction of C$176,992.54. Following the transaction, the director now directly owns 385,942 shares in the company, valued at approximately C$2,089,914.52.

About Tamarack Valley Energy (Get Rating)

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.

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