Surge Energy Inc. (TSE:SGY – Get Free Report) has been given an average recommendation of “Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$13.31.
SGY has been the topic of a number of analyst reports. Raymond James lifted their price target on Surge Energy from C$13.00 to C$14.00 in a report on Friday, September 8th. Stifel Nicolaus increased their price target on shares of Surge Energy from C$11.75 to C$12.50 and gave the company a “buy” rating in a research report on Monday, October 23rd. BMO Capital Markets lifted their price objective on shares of Surge Energy from C$10.50 to C$11.00 in a research report on Friday, November 3rd. ATB Capital set a C$13.00 target price on shares of Surge Energy and gave the company an “outperform” rating in a research report on Friday, October 20th. Finally, National Bankshares raised their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th.
Surge Energy Price Performance
Surge Energy Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Monday, October 30th. Surge Energy’s dividend payout ratio (DPR) is presently 20.25%.
About Surge Energy
Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company's principal properties include Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; the Southeast Saskatchewan properties are located in the Southeast corner of the Province; the Greater Sawn Lake assets located in Northern Alberta; the Valhalla/Wembley property located in northwestern Alberta; and the Shaunavon properties located to the southwest of Swift Current, Saskatchewan.
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