TD Securities Raises Surge Energy (TSE:SGY) Price Target to C$1.75

Surge Energy (TSE:SGY) had its price target boosted by TD Securities from C$1.65 to C$1.75 in a research report released on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Raymond James reiterated an outperform rating and set a C$1.75 price objective on shares of Surge Energy in a research report on Tuesday. GMP Securities decreased their price objective on shares of Surge Energy from C$1.95 to C$1.75 in a research report on Friday, June 28th. Canaccord Genuity decreased their price objective on shares of Surge Energy from C$2.25 to C$2.00 in a research report on Tuesday, July 9th. National Bank Financial decreased their price objective on shares of Surge Energy from C$2.25 to C$1.75 and set an outperform rating for the company in a research report on Tuesday, June 25th. Finally, CIBC decreased their price objective on shares of Surge Energy from C$2.25 to C$1.75 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Surge Energy currently has a consensus rating of Buy and an average target price of C$2.32.

SGY opened at C$1.07 on Tuesday. Surge Energy has a twelve month low of C$1.06 and a twelve month high of C$2.73. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 56.97. The company has a fifty day moving average of C$1.24 and a 200-day moving average of C$1.32. The stock has a market cap of $357.94 million and a PE ratio of -3.63.

The business also recently declared a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were issued a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 9.31%. The ex-dividend date of this dividend was Tuesday, July 30th. Surge Energy’s payout ratio is -33.61%.

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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Analyst Recommendations for Surge Energy (TSE:SGY)

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