Surge Energy (TSE:SGY) had its price objective cut by Raymond James from C$2.00 to C$1.75 in a research report released on Thursday morning, BayStreet.CA reports.
Several other research analysts also recently commented on the stock. GMP Securities restated a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. TD Securities downgraded shares of Tricon Capital Group from an action list buy rating to a buy rating and lowered their price objective for the company from C$14.50 to C$13.50 in a research report on Thursday, May 9th. National Bank Financial lowered 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 research report on Tuesday, June 25th. Finally, Canaccord Genuity restated a buy rating and set a $7.50 price objective on shares of in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of C$2.41.
Shares of SGY opened at C$1.27 on Thursday. Surge Energy has a one year low of C$1.06 and a one year high of C$2.73. The firm has a market capitalization of $398.76 million and a P/E ratio of -4.31. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 56.97. The company’s 50 day moving average price is C$1.24.
Surge Energy (TSE:SGY) last announced its quarterly earnings data on Monday, May 6th. The company reported C($0.03) EPS for the quarter. The business had revenue of C$97.87 million for the quarter. Equities analysts expect that Surge Energy will post 0.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 17th were issued a dividend of $0.0083 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.03 annualized dividend and a dividend yield of 2.61%. Surge Energy’s dividend payout ratio (DPR) is presently -33.61%.
In related news, Director Robert Allen Leach purchased 20,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of C$1.60 per share, for a total transaction of C$31,936.00. Following the completion of the acquisition, the director now owns 742,352 shares of the company’s stock, valued at C$1,185,387.67. Insiders have bought 24,654 shares of company stock valued at $38,637 over the last quarter.
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.
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