Q4 EPS Estimates for Surge Energy Lifted by Atb Cap Markets

Surge Energy Inc. (TSE:SGY) – Atb Cap Markets raised their Q4 2024 earnings estimates for Surge Energy in a report released on Thursday, November 7th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.25 per share for the quarter, up from their previous estimate of $0.24.

Several other equities research analysts have also recently weighed in on SGY. National Bankshares increased their price objective on Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. BMO Capital Markets boosted their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Cormark raised shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Finally, Acumen Capital boosted their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$11.43.

Surge Energy Stock Down 3.3 %

TSE SGY opened at C$5.84 on Friday. Surge Energy has a 1 year low of C$5.51 and a 1 year high of C$8.91. The stock has a market capitalization of C$585.87 million, a PE ratio of 3.60, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The business’s 50-day moving average is C$6.13 and its 200 day moving average is C$6.69.

Surge Energy Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.90%. Surge Energy’s dividend payout ratio is currently 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.