Surge Energy (TSE:SGY) Price Target Raised to C$15.00

Surge Energy (TSE:SGY) had its price target boosted by ATB Cormark Capital Markets from C$13.00 to C$15.00 in a report issued on Thursday,BayStreet reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Several other analysts also recently weighed in on SGY. Canaccord Genuity Group lifted their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Raymond James Financial upped their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Acumen Capital raised their price target on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, National Bank Financial lifted their price objective on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Surge Energy presently has a consensus rating of “Buy” and a consensus target price of C$13.65.

Surge Energy Price Performance

Shares of Surge Energy stock opened at C$11.92 on Thursday. The stock has a market cap of C$1.18 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 0.59 and a beta of -0.43. The company has a debt-to-equity ratio of 31.11, a quick ratio of 0.40 and a current ratio of 1.04. The stock has a 50 day moving average price of C$10.71 and a 200-day moving average price of C$9.80. Surge Energy has a one year low of C$6.42 and a one year high of C$12.70.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The company had revenue of C$191.22 million for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a dividend of $0.0433 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. Surge Energy’s dividend payout ratio (DPR) is 118.18%.

Surge Energy Company Profile

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.