Surge Energy (TSE:SGY) PT Lowered to C$2.00

Surge Energy (TSE:SGY) had its price target decreased by Canaccord Genuity from C$2.25 to C$2.00 in a research report released on Tuesday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. GMP Securities reissued a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. National Bank Financial dropped their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. TD Securities downgraded shares of Tricon Capital Group from an action list buy rating to a buy rating and dropped their price objective for the stock from C$14.50 to C$13.50 in a report on Thursday, May 9th. Finally, 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of C$2.41.

SGY opened at C$1.29 on Tuesday. The company has a debt-to-equity ratio of 56.97, a quick ratio of 0.69 and a current ratio of 0.79. The stock has a market capitalization of $405.03 million and a P/E ratio of -4.37. The business has a 50 day simple moving average of C$1.24. Surge Energy has a 12-month low of C$1.06 and a 12-month high of C$2.73.



Surge Energy (TSE:SGY) last posted its quarterly earnings data on Monday, May 6th. The company reported C($0.03) earnings per share (EPS) for the quarter. The company had revenue of C$97.87 million for the quarter. As a group, research analysts predict that Surge Energy will post 0.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 17th were paid a dividend of $0.0083 per share. This represents a $0.03 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, May 30th. Surge Energy’s payout ratio is -33.61%.

In other news, Director Robert Allen Leach bought 20,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of C$1.60 per share, for a total transaction of C$31,936.00. Following the purchase, the director now owns 742,352 shares in the company, valued at C$1,185,387.67. In the last 90 days, insiders have acquired 24,654 shares of company stock worth $38,637.

About Surge Energy

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.

See Also: How Does the Quiet Period Work?

Analyst Recommendations for Surge Energy (TSE:SGY)

Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.