Surge Energy Inc. (TSE:SGY) Declares Monthly Dividend of $0.04

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Tuesday, October 15th, TickerTech reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.0433 per share on Friday, November 15th. This represents a $0.52 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date is Thursday, October 31st. This is a boost from Surge Energy’s previous monthly dividend of $0.04.

Surge Energy Stock Down 4.9 %

Shares of Surge Energy stock opened at C$6.17 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The company has a market cap of C$618.97 million, a P/E ratio of 3.81, a PEG ratio of 0.59 and a beta of 2.54. The firm’s 50 day moving average price is C$6.34 and its 200-day moving average price is C$6.90. Surge Energy has a 52-week low of C$5.51 and a 52-week high of C$9.77.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.02). The business had revenue of C$173.17 million for the quarter, compared to analysts’ expectations of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%.

Analysts Set New Price Targets

SGY has been the subject of a number of recent analyst reports. National Bankshares lifted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. BMO Capital Markets boosted their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Acumen Capital upped their target price on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Cormark raised Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$11.93.

Surge Energy Company Profile

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.