Shares of Surge Energy Inc (TSE:SGY) have earned a consensus rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$2.15.
Several analysts have weighed in on the company. Canaccord Genuity cut their target price on Surge Energy from C$2.25 to C$2.00 in a research note on Tuesday, July 9th. CIBC cut their target price on Surge Energy from C$2.25 to C$1.75 in a research note on Thursday, July 18th. TD Securities boosted their price objective on Surge Energy from C$1.65 to C$1.75 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. National Bank Financial dropped their price objective on Surge Energy from C$2.25 to C$1.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Raymond James reissued an “outperform” rating and issued a C$1.75 price objective on shares of Surge Energy in a research note on Tuesday, August 13th.
In other news, Director James Murray Pasieka acquired 350,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of C$1.25 per share, with a total value of C$435,750.00. Following the purchase, the director now owns 910,492 shares of the company’s stock, valued at C$1,133,562.54.
Surge Energy (TSE:SGY) last announced its earnings results on Monday, August 12th. The company reported C$0.03 earnings per share for the quarter. The business had revenue of C$107.67 million for the quarter. On average, analysts expect that Surge Energy will post 0.01 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date is Friday, September 27th. Surge Energy’s dividend payout ratio is presently -34.01%.
About Surge Energy
Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.
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