Surge Energy Inc. (SGY) To Go Ex-Dividend on August 29th

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Thursday, August 15th, Zacks reports. Stockholders of record on Saturday, August 31st will be paid a dividend of 0.043 per share on Monday, September 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Thursday, August 29th.

Surge Energy Price Performance

Shares of TSE:SGY opened at C$6.82 on Tuesday. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77. The stock has a fifty day moving average of C$6.87 and a 200-day moving average of C$7.07. The company has a market capitalization of C$684.18 million, a PE ratio of 4.21, a price-to-earnings-growth ratio of 0.59 and a beta of 2.58. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50.

Surge Energy (TSE:SGY) last released its earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). The business had revenue of C$173.17 million during 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%. As a group, equities analysts anticipate that Surge Energy will post 0.8567807 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SGY shares. Acumen Capital upped their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets upped their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Surge Energy currently has an average rating of “Buy” and an average price target of C$11.89.

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.