Surge Energy Inc to Issue Monthly Dividend of $0.01 (SGY)

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 Company Profile

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.

Dividend History for Surge Energy (TSE:SGY)

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