National Bank Financial set a C$2.25 price objective on Surge Energy (TSE:SGY) in a report issued on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.
A number of other brokerages also recently commented on SGY. Royal Bank of Canada lowered their target price on shares of Surge Energy from C$3.00 to C$2.50 in a research note on Tuesday, January 8th. Canaccord Genuity lowered their target price on shares of Surge Energy from C$3.75 to C$2.75 in a research note on Thursday, January 10th. Laurentian lowered their target price on shares of Surge Energy from C$2.25 to C$2.00 in a research note on Monday, January 14th. Raymond James reiterated an outperform rating and set a C$2.50 target price on shares of Surge Energy in a research note on Tuesday, January 15th. Finally, TD Securities reduced their price target on shares of Surge Energy from C$2.00 to C$1.95 and set a buy rating for the company in a research report on Tuesday, January 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of C$2.51.
TSE:SGY opened at C$1.37 on Wednesday. The firm has a market capitalization of $430.15 million and a price-to-earnings ratio of -4.64. The company has a debt-to-equity ratio of 56.97, a current ratio of 0.79 and a quick ratio of 0.69. Surge Energy has a 52 week low of C$1.22 and a 52 week high of C$2.76.
Surge Energy (TSE:SGY) last posted its quarterly earnings results on Tuesday, March 12th. The company reported C($0.04) EPS for the quarter. The business had revenue of C$58.13 million for the quarter. On average, sell-side analysts anticipate that Surge Energy will post 0.0300000008633094 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.0083 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 7.27%. Surge Energy’s payout ratio is -33.61%.
In other Surge Energy news, Director Robert Allen Leach bought 20,000 shares of Surge Energy stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of C$1.60 per share, with a total value of C$31,936.00. Following the completion of the acquisition, the director now owns 742,352 shares of the company’s stock, valued at C$1,185,387.67.
Surge Energy Company Profile
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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