Raymond James restated their outperform rating on shares of Surge Energy (TSE:SGY) in a report published on Tuesday morning, BayStreet.CA reports. Raymond James currently has a C$1.75 target price on the stock.
Other research analysts have also recently issued research reports about the stock. TD Securities raised their price target on shares of Surge Energy from C$1.70 to C$2.00 and gave the stock a buy rating in a research note on Thursday, May 9th. CIBC cut their price target on shares of Surge Energy from C$2.25 to C$1.75 in a research note on Thursday, July 18th. National Bank Financial cut their price target on shares of Surge Energy from C$2.25 to C$1.75 and set an outperform rating for the company in a research note on Tuesday, June 25th. Canaccord Genuity cut their price target on shares of Surge Energy from C$2.25 to C$2.00 in a research note on Tuesday, July 9th. Finally, GMP Securities dropped their price objective on shares of Surge Energy from C$1.95 to C$1.75 in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of C$2.32.
Shares of SGY opened at C$1.07 on Tuesday. The stock has a market cap of $357.94 million and a price-to-earnings ratio of -3.63. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 56.97. Surge Energy has a 12 month low of C$1.06 and a 12 month high of C$2.73. The company has a 50-day moving average price of C$1.24 and a two-hundred day moving average price of C$1.32.
The business also recently declared a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 15th were issued a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date was Tuesday, July 30th. Surge Energy’s dividend payout ratio is currently -33.61%.
About Surge Energy
Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.
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