Cormark upgraded shares of Surge Energy (TSE:SGY – Free Report) to a moderate buy rating in a report published on Monday morning, Zacks.com reports.
A number of other brokerages have also recently weighed in on SGY. Acumen Capital lifted their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a strong-buy rating in a research note on Thursday, August 1st. BMO Capital Markets raised their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Surge Energy currently has an average rating of Buy and an average price target of C$11.89.
Get Our Latest Stock Analysis on Surge Energy
Surge Energy Trading Down 1.5 %
Surge Energy (TSE:SGY – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million. Sell-side analysts expect that Surge Energy will post 0.838256 earnings per share for the current year.
Surge Energy Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date is Friday, September 27th. Surge Energy’s payout ratio is 32.10%.
About Surge Energy
Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.
Featured Articles
- Five stocks we like better than Surge Energy
- What Are Dividends? Buy the Best Dividend Stocks
- Rocket Lab Stock Soars: Should Investors Chase the Rally?
- How to Effectively Use the MarketBeat Ratings Screener
- KB Home Slips After Earnings: What’s Next for Homebuilders?
- Insider Trading – What You Need to Know
- Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat
Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.