Surge Energy (TSE:SGY) Stock Price Down 5%

Surge Energy Inc. (TSE:SGYGet Rating) was down 5% during mid-day trading on Monday . The stock traded as low as C$8.57 and last traded at C$8.58. Approximately 54,616 shares changed hands during trading, a decline of 94% from the average daily volume of 964,079 shares. The stock had previously closed at C$9.03.

Analyst Ratings Changes

Several analysts have issued reports on SGY shares. National Bankshares cut their price objective on Surge Energy to C$14.00 in a research note on Friday, September 30th. ATB Capital reiterated an “outperform” rating and set a C$15.00 price target on shares of Surge Energy in a research report on Thursday, October 27th.

Surge Energy Price Performance

The company has a current ratio of 0.43, a quick ratio of 0.40 and a debt-to-equity ratio of 43.07. The business has a 50-day moving average price of C$9.16 and a two-hundred day moving average price of C$9.65. The firm has a market capitalization of C$780.15 million and a price-to-earnings ratio of 8.15.

Surge Energy (TSE:SGYGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported C$0.91 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.49 by C$0.42. The company had revenue of C$179.30 million for the quarter. As a group, research analysts forecast that Surge Energy Inc. will post 1.55 EPS for the current year.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 15th will be issued a $0.035 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, November 29th. Surge Energy’s dividend payout ratio (DPR) is 12.28%.

Surge Energy Company Profile

(Get Rating)

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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