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

Key Points

• Surge Energy declared a monthly dividend of C$0.0433 per share, representing an annualized yield of approximately 5.4%. The ex-dividend date is July 31, and shareholders of record on August 17 are scheduled for payment that day.
• Shares opened at C$9.71, with the stock trading between a 12-month low of C$6.42 and high of C$10.65. The company reported quarterly revenue of C$75 million and a loss of C$0.25 per share.
• Analysts remain positive: five firms rate the stock a Buy or Outperform, contributing to a consensus “Buy” rating and an average price target of C$13.25.

Surge Energy Inc. (TSE:SGY - Get Free Report) declared a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Stockholders of record on Monday, August 17th will be paid a dividend of 0.0433 per share on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, July 31st.

Surge Energy Price Performance

Shares of TSE SGY opened at C$9.71 on Wednesday. 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 company has a market capitalization of C$972.88 million, a price-to-earnings ratio of 138.71, a price-to-earnings-growth ratio of 0.59 and a beta of -0.39. Surge Energy has a twelve month low of C$6.42 and a twelve month high of C$10.65. The business has a 50 day simple moving average of C$9.66 and a 200-day simple moving average of C$8.84.

Surge Energy (TSE:SGY - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) EPS for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.The business had revenue of C$75.00 million during the quarter.

Analyst Upgrades and Downgrades

SGY has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Acumen Capital increased their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Raymond James Financial raised their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. National Bank Financial lifted their target price on Surge Energy from C$12.75 to C$13.50 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus 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.

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