Paul Colborne Buys 25,000 Shares of Surge Energy Inc (SGY) Stock

Surge Energy Inc (TSE:SGY) Director Paul Colborne acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of C$2.28 per share, for a total transaction of C$57,000.00.

Paul Colborne also recently made the following trade(s):

  • On Thursday, July 19th, Paul Colborne acquired 25,000 shares of Surge Energy stock. The shares were acquired at an average cost of C$2.47 per share, for a total transaction of C$61,750.00.
  • On Monday, July 16th, Paul Colborne acquired 411 shares of Surge Energy stock. The shares were acquired at an average cost of C$2.48 per share, for a total transaction of C$1,019.28.
  • On Thursday, June 28th, Paul Colborne bought 15,000 shares of Surge Energy stock. The stock was purchased at an average price of C$2.33 per share, with a total value of C$34,950.00.
  • On Tuesday, June 26th, Paul Colborne bought 25,000 shares of Surge Energy stock. The stock was purchased at an average price of C$2.31 per share, with a total value of C$57,750.00.
  • On Monday, June 18th, Paul Colborne bought 15,000 shares of Surge Energy stock. The stock was purchased at an average price of C$2.27 per share, with a total value of C$34,050.00.
  • On Thursday, June 14th, Paul Colborne bought 20,000 shares of Surge Energy stock. The stock was purchased at an average price of C$2.39 per share, with a total value of C$47,800.00.

SGY traded up C$0.08 during trading on Wednesday, hitting C$2.47. The stock had a trading volume of 957,662 shares, compared to its average volume of 724,036. Surge Energy Inc has a twelve month low of C$1.58 and a twelve month high of C$2.76.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 17th will be paid a dividend of $0.0083 per share. 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 4.03%. The ex-dividend date is Thursday, August 30th.

Several brokerages have weighed in on SGY. Raymond James raised their target price on shares of 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. BMO Capital Markets raised their target price on shares of Surge Energy from C$3.00 to C$3.25 in a research note on Wednesday, May 16th. CIBC raised their target price on shares of Surge Energy from C$2.25 to C$2.75 in a research note on Wednesday, May 16th. National Bank Financial raised their target price on shares of Surge Energy from C$3.00 to C$3.25 and gave the company an “outperform” rating in a research note on Wednesday, May 16th. Finally, Canaccord Genuity raised their target price on shares of Surge Energy from C$3.50 to C$3.75 in a research note on Wednesday, May 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of C$3.23.

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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