Surge Energy Inc (SGY) Given Consensus Rating of “Buy” by Brokerages
Shares of Surge Energy Inc (TSE:SGY) have received a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$3.23.
Several research analysts have weighed in on SGY shares. TD Securities lifted their target price on Surge Energy from C$3.25 to C$3.50 and gave the company a “buy” rating in a research note on Friday, September 7th. Raymond James lifted their target price on Surge Energy from C$3.25 to C$3.50 and gave the company an “outperform” rating in a research note on Friday, September 7th. Finally, CIBC lifted their target price on Surge Energy from C$2.75 to C$3.00 in a research note on Friday, July 20th.
In other Surge Energy news, Director Paul Colborne purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 26th. The shares were purchased at an average cost of C$2.31 per share, for a total transaction of C$57,750.00. Also, Director Keith Elliott Macdonald sold 17,805 shares of Surge Energy stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of C$2.12, for a total value of C$37,746.60. Over the last 90 days, insiders purchased 125,911 shares of company stock worth $294,449.
The business also recently announced a monthly dividend, which will be paid on Monday, September 17th. Shareholders of record on Monday, September 17th will be paid a $0.0083 dividend. This is an increase from Surge Energy’s previous monthly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, August 30th.
About Surge Energy
Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.
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