Surge Energy Inc (TSE:SGY) declared a monthly dividend on Friday, December 15th, Zacks reports. Stockholders of record on Sunday, December 31st will be given a dividend of 0.008 per share on Monday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Thursday, December 28th. This is a boost from Surge Energy’s previous monthly dividend of $0.007917.

Surge Energy (TSE SGY) remained flat at $C$2.08 on Friday. 584,800 shares of the company’s stock traded hands, compared to its average volume of 912,578. The stock has a market capitalization of $484.47, a PE ratio of -52.00 and a beta of 0.26. Surge Energy has a 52-week low of C$1.90 and a 52-week high of C$3.45.

In related news, insider Daniel Curt Brown sold 13,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$2.04, for a total value of C$26,520.00. Insiders purchased 4,876 shares of company stock valued at $10,047 over the last quarter.

A number of research analysts have recently commented on SGY shares. Eight Capital lowered shares of Surge Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from C$2.90 to C$2.60 in a research report on Friday, October 27th. CIBC boosted their price target on shares of Surge Energy from C$2.25 to C$2.50 in a research report on Thursday, November 16th. Scotiabank upped their target price on shares of Surge Energy from C$2.50 to C$2.70 and gave the stock a “sector perform” rating in a research report on Thursday, November 16th. Finally, National Bank Financial cut their target price on shares of Surge Energy from C$3.25 to C$3.00 and set an “outperform” rating for the company in a research report on Friday, October 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$2.97.

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Surge Energy Company Profile

Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.

Dividend History for Surge Energy (TSE:SGY)

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