Tamarack Valley Energy Ltd (TVE) to Distribute Quarterly Dividend of $0.05 on September 30th

Tamarack Valley Energy Ltd (TSE:TVE) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Wednesday, September 30th will be given a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 25.0% increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04.

Tamarack Valley Energy Stock Down 2.0%

TSE TVE traded down C$0.27 on Friday, hitting C$13.29. 1,884,468 shares of the stock traded hands, compared to its average volume of 2,056,616. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The company has a market capitalization of C$6.31 billion, a P/E ratio of 189.86 and a beta of 0.26. Tamarack Valley Energy has a twelve month low of C$5.68 and a twelve month high of C$14.11. The stock has a 50-day moving average of C$13.26 and a 200 day moving average of C$12.34.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. As a group, analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TVE shares. Canadian Imperial Bank of Commerce upped their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Desjardins raised their price objective on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$13.93.

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.