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 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 3.48%. 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 Stock Performance

TSE:TVE traded down C$0.02 on Wednesday, hitting C$4.38. The stock had a trading volume of 510,659 shares, compared to its average volume of 2,444,951. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 52-week low of C$2.76 and a 52-week high of C$4.62. The stock has a market cap of C$2.38 billion, a price-to-earnings ratio of 19.17 and a beta of 2.49. The business’s 50-day simple moving average is C$4.17 and its two-hundred day simple moving average is C$3.92.

Analyst Ratings Changes

Several research analysts recently commented on TVE shares. 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. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Acumen Capital lifted their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday, November 1st. National Bankshares upped their price objective 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. Finally, CIBC lifted 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and an average 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.