Surge Energy Inc. Plans Oct 25 Dividend of $0.04 (TSE:SGY)

Key Points

• Surge Energy Inc. announced a dividend of $0.04 per share, set for payment on October 25, 2023, to stockholders of record by September 30, 2023.
• The company's stock had a market capitalization of C$676.80 million and a price-to-earnings ratio of 12.42, indicating a potential value opportunity for investors.
• Insider trading activity includes Director Allison Michelle Maher selling 13,100 shares at an average price of C$7.64, which may signal confidence or strategy shifts within the company.

Surge Energy Inc. (TSE:SGY - Get Free Report) declared a oct 25 dividend on Monday, September 15th, RTT News reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.0433 per share on Wednesday, October 15th.

Surge Energy Trading Down 0.6%

TSE SGY traded down C$0.04 during trading on Friday, hitting C$6.93. The stock had a trading volume of 428,191 shares, compared to its average volume of 550,489. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The company has a market capitalization of C$686.71 million, a PE ratio of 12.60, a PEG ratio of 0.59 and a beta of 0.75. The firm has a 50 day moving average price of C$7.01 and a 200 day moving average price of C$6.03. Surge Energy has a twelve month low of C$4.37 and a twelve month high of C$7.84.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. ATB Capital lifted their price objective on shares of Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Raymond James Financial boosted their price target on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, Roth Capital set a C$8.50 target price on Surge Energy and gave the stock a "buy" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$9.42.

Surge Energy Company Profile

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.