Surge Energy (TSE:SGY) Price Target Raised to C$9.75 at ATB Capital

Surge Energy (TSE:SGY) had its target price raised by ATB Capital from C$8.25 to C$9.75 in a research report released on Friday morning,BayStreet.CA reports.

Separately, Raymond James Financial increased their price target on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$9.06.

Surge Energy Stock Performance

SGY stock traded down C$0.23 during midday trading on Friday, reaching C$7.41. The stock had a trading volume of 522,546 shares, compared to its average volume of 570,928. The stock has a market cap of C$733.20 million, a PE ratio of 16.47, a P/E/G ratio of 0.59 and a beta of 0.22. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. The firm has a fifty day simple moving average of C$6.97 and a two-hundred day simple moving average of C$6.58. Surge Energy has a 52-week low of C$4.37 and a 52-week high of C$7.85.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. The business had revenue of C$119.99 million for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were given a dividend of $0.0433 per share. The ex-dividend date was Thursday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. Surge Energy’s dividend payout ratio (DPR) is 115.55%.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.