Surge Energy Inc. (SGY) to Distribute Monthly Dividend of $0.04 on August 17th

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Stockholders of record on Monday, August 17th will be given a dividend of 0.0433 per share on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, July 31st.

Surge Energy Stock Up 2.0%

Shares of SGY stock traded up C$0.19 during trading hours on Wednesday, hitting C$9.90. 116,516 shares of the company were exchanged, compared to its average volume of 894,542. Surge Energy has a 52 week low of C$6.42 and a 52 week high of C$10.65. The company has a current ratio of 0.58, a quick ratio of 0.40 and a debt-to-equity ratio of 34.75. The business has a 50 day moving average of C$9.66 and a two-hundred day moving average of C$8.84. The company has a market capitalization of C$991.92 million, a PE ratio of 141.43, a PEG ratio of 0.59 and a beta of -0.39.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.The company had revenue of C$75.00 million during the quarter.

Analysts Set New Price Targets

SGY has been the topic of a number of recent analyst reports. Acumen Capital boosted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. National Bank Financial lifted their price objective on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Raymond James Financial upped their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price target on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets upped their price objective on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$13.25.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.