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

Tamarack Valley Energy Ltd (TSE:TVE)’s share price reached a new 52-week high during 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. The stock had previously closed at C$4.60.

The newly announced dividend which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be paid a $0.0127 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.15 annualized dividend and a yield of 3.26%. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. CIBC boosted their price objective 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. Finally, National Bankshares decreased their price target on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Up 1.5 %

The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The stock has a market capitalization of C$2.54 billion, a PE ratio of 20.30 and a beta of 2.49. The business has a fifty day moving average price of C$4.32.

Insider Activity

In related news, Director Marnie Smith sold 9,668 shares of the 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. Company insiders own 1.32% of the company’s stock.

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.