Surge Energy (TSE:SGY) Price Target Cut to C$1.75

Surge Energy (TSE:SGY) had its price objective trimmed by GMP Securities from C$1.95 to C$1.75 in a report issued on Friday, June 28th, BayStreet.CA reports.

A number of other analysts also recently issued reports on SGY. TD Securities downgraded shares of Tricon Capital Group from an action list buy rating to a buy rating and cut their price objective for the company from C$14.50 to C$13.50 in a report on Thursday, May 9th. Raymond James reissued an average rating and issued a $4.50 price objective on shares of John Hancock Financial Opprts Fund in a report on Thursday, May 9th. Canaccord Genuity cut their price objective on shares of Surge Energy from C$2.75 to C$2.25 and set a buy rating for the company in a report on Wednesday, March 13th. Finally, National Bank Financial cut their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of C$2.34.

SGY traded up C$0.06 on Friday, reaching C$1.25. The company had a trading volume of 323,300 shares, compared to its average volume of 1,018,279. Surge Energy has a fifty-two week low of C$1.06 and a fifty-two week high of C$2.73. The firm has a market cap of $383.06 million and a PE ratio of -4.24. The firm’s fifty day simple moving average is C$1.23. The company has a debt-to-equity ratio of 56.97, a quick ratio of 0.69 and a current ratio of 0.79.

Surge Energy (TSE:SGY) last announced its quarterly earnings results on Monday, May 6th. The company reported C($0.03) EPS for the quarter. The company had revenue of C$97.87 million for the quarter. Research analysts forecast that Surge Energy will post 0.03 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be issued a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend is Tuesday, July 30th. Surge Energy’s dividend payout ratio is currently -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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