Surge Energy Inc. (TSE:SGY) to Issue $0.04 Monthly Dividend

Key Points

• Surge Energy Inc. is set to issue a monthly dividend of $0.04 per share, with an annualized dividend of $0.52 and a dividend yield of 7.02%.
• The company's stock was recently upgraded by analysts, with price targets set as high as C$10.00, reflecting an overall average rating of "Strong Buy".
• Senior Officer Murray Bye purchased 11,845 shares of Surge Energy stock at C$4.88 per share, showcasing insider confidence in the company.

Surge Energy Inc. (TSE:SGY - Get Free Report) declared a monthly dividend on Thursday, July 31st, TickerTech Dividends reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.0433 per share on Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, July 31st.

Surge Energy Stock Down 0.8%

Surge Energy stock traded down C$0.06 during mid-day trading on Friday, reaching C$7.30. The stock had a trading volume of 595,398 shares, compared to its average volume of 571,280. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. Surge Energy has a fifty-two week low of C$4.37 and a fifty-two week high of C$7.84. The stock's 50-day simple moving average is C$6.30 and its 200-day simple moving average is C$5.70. The firm has a market capitalization of C$734.11 million, a PE ratio of -9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James Financial lifted their target price on Surge Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a report on Tuesday. ATB Capital boosted their price objective on Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Roth Capital set a C$8.50 target price on shares of Surge Energy and gave the stock a "buy" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Surge Energy currently has a consensus rating of "Strong Buy" and a consensus target price of C$9.89.

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.