Tamarack Valley Energy (TSE:TVE) Sets New 1-Year High After Dividend Announcement

Tamarack Valley Energy Ltd (TSE:TVE)’s share price hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as C$4.70 and last traded at C$4.67, with a volume of 221072 shares traded. The stock had previously closed at C$4.60.

The newly announced dividend which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a $0.0127 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.15 dividend on an annualized basis and a yield of 3.22%. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Wall Street Analysts Forecast Growth

TVE has been the topic of several recent analyst reports. Acumen Capital lifted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC lifted their price target 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. National Bankshares cut their price objective on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Up 2.6 %

The firm has a market cap of C$2.57 billion, a PE ratio of 20.57 and a beta of 2.49. The company has a 50-day simple moving average of C$4.34 and a 200-day simple moving average of C$4.04. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Insider Activity at Tamarack Valley Energy

In other news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is owned by company insiders.

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.