Tamarack Valley Energy (TSE:TVE) Sets New 12-Month High After Dividend Announcement

Tamarack Valley Energy Ltd (TSE:TVE) shares hit a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as C$14.14 and last traded at C$14.05, with a volume of 871153 shares changing hands. The stock had previously closed at C$13.61.

The newly announced dividend which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 15th. Tamarack Valley Energy’s payout ratio is 225.24%.

Wall Street Analyst Weigh In

TVE has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce lifted 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. Raymond James Financial raised their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy has an average rating of “Buy” and a consensus target price of C$13.93.

Tamarack Valley Energy Price Performance

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 company has a 50-day moving average of C$13.28 and a 200-day moving average of C$12.39. The stock has a market cap of C$6.70 billion, a price-to-earnings ratio of 201.43 and a beta of 0.26.

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

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.