Shares of Surge Energy Inc. (TSE:SGY – Get Free Report) have been given a consensus rating of “Buy” by the seven research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$11.89.
A number of research firms recently commented on SGY. Acumen Capital boosted their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. BMO Capital Markets boosted their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.
Get Our Latest Analysis on Surge Energy
Surge Energy Stock Down 0.5 %
Surge Energy (TSE:SGY – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million. Equities research analysts expect that Surge Energy will post 0.8496454 earnings per share for the current fiscal year.
Surge Energy Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.043 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.52 annualized dividend and a yield of 8.36%. Surge Energy’s dividend payout ratio is presently 32.10%.
About Surge Energy
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.
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