Surge Energy Inc (SGY) Declares Monthly Dividend of $0.01

Surge Energy Inc (TSE:SGY) announced 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 yield of 4.81%. The ex-dividend date is Tuesday, February 27th.

Surge Energy (TSE SGY) traded up C$0.05 during trading on Thursday, hitting C$1.97. 170,088 shares of the stock were exchanged, compared to its average volume of 865,748. The company has a market cap of $447.34, a P/E ratio of -48.50 and a beta of 0.50. Surge Energy has a fifty-two week low of C$1.58 and a fifty-two week high of C$2.91.

Several brokerages recently commented on SGY. TD Securities dropped their target price on shares of Surge Energy from C$3.25 to C$3.00 in a report on Wednesday, February 14th. Eight Capital downgraded shares of Surge Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$2.90 to C$2.60 in a report on Friday, October 27th. CIBC lifted their target price on shares of Surge Energy from C$2.25 to C$2.50 in a report on Thursday, November 16th. Finally, Scotiabank lifted their target price on shares of Surge Energy from C$2.50 to C$2.70 and gave the stock a “sector perform” rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target 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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