Tamarack Valley Energy Ltd (TSE:TVE) to Issue Dividend Increase – $0.05 Per Share

Tamarack Valley Energy Ltd (TSE:TVE) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date 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 Performance

TSE TVE traded down C$0.27 during trading on Friday, reaching C$13.29. The company’s stock had a trading volume of 1,884,468 shares, compared to its average volume of 2,056,616. The business’s fifty day moving average price is C$13.26 and its 200-day moving average price is C$12.34. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The firm has a market cap of C$6.31 billion, a price-to-earnings 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.

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

Analysts Set New Price Targets

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

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.