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

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

Separately, Raymond James Financial boosted their price objective on shares of Surge Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, Surge Energy presently has a consensus rating of “Buy” and a consensus target price of C$9.06.

Surge Energy Stock Down 3.0%

Surge Energy stock opened at C$7.41 on Friday. Surge Energy has a twelve month low of C$4.37 and a twelve month high of C$7.85. The stock has a 50 day moving average of C$6.97 and a two-hundred day moving average of C$6.61. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The stock has a market capitalization of C$733.20 million, a price-to-earnings ratio of 16.47, a PEG ratio of 0.59 and a beta of 0.22.

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

Surge Energy Dividend Announcement

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