Tamarack Valley Energy Ltd (TSE:TVE) Declares Dividend Increase – $0.01 Per Share

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 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, November 29th. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock remained flat at C$4.40 on Wednesday. 556,074 shares of the stock traded hands, compared to its average volume of 2,445,177. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.62. The company’s 50-day simple moving average is C$4.17 and its 200-day simple moving average is C$3.92. The company has a market capitalization of C$2.39 billion, a P/E ratio of 19.17 and a beta of 2.49. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TVE shares. Royal Bank of Canada lifted their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Acumen Capital boosted 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. CIBC increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, National Bankshares boosted their price target on shares of 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. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.