Surge Energy Inc (TSE:SGY) declared a monthly dividend on Tuesday, February 27th, TickerTech reports. Shareholders of record on Thursday, March 15th will be given a dividend of 0.0079 per share on Thursday, March 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, February 27th.
Surge Energy (TSE:SGY) traded up C$0.02 during trading on Thursday, hitting C$1.94. 88,861 shares of the company’s stock were exchanged, compared to its average volume of 865,748. Surge Energy has a 12-month low of C$1.58 and a 12-month high of C$2.91. The company has a market capitalization of $447.34, a price-to-earnings ratio of -48.00 and a beta of 0.50.
A number of research analysts have weighed in on the stock. TD Securities dropped their price objective on shares of Surge Energy from C$3.25 to C$3.00 in a research note on Wednesday, February 14th. Scotiabank raised their price objective on shares of Surge Energy from C$2.50 to C$2.70 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. CIBC raised their price objective on shares of Surge Energy from C$2.25 to C$2.50 in a research note on Thursday, November 16th. Finally, Eight Capital lowered shares of Surge Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from C$2.90 to C$2.60 in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$2.84.
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Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.
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