Surge Energy (TSE:SGY - Free Report) had its price target cut by Canaccord Genuity Group from C$11.00 to C$10.50 in a report issued on Tuesday, BayStreet.CA reports.
Several other analysts have also commented on the company. National Bankshares raised their price objective on Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Cormark raised shares of Surge Energy to a "moderate buy" rating in a research note on Monday, September 23rd. Acumen Capital lifted their price objective on Surge Energy from C$12.25 to C$12.75 and gave the stock a "strong-buy" rating in a report on Thursday, August 1st. Raymond James upgraded shares of Surge Energy to a "moderate buy" rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets increased their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$11.43.
Check Out Our Latest Analysis on SGY
Surge Energy Stock Performance
Shares of TSE:SGY traded up C$0.08 during trading on Tuesday, hitting C$6.13. 562,211 shares of the stock traded hands, compared to its average volume of 445,758. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The company has a fifty day moving average price of C$6.31 and a two-hundred day moving average price of C$6.84. Surge Energy has a 52-week low of C$5.51 and a 52-week high of C$9.77. The company has a market cap of C$614.96 million, a price-to-earnings ratio of 3.78, a P/E/G ratio of 0.59 and a beta of 2.54.
Surge Energy (TSE:SGY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing analysts' consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The firm had revenue of C$173.17 million during the quarter, compared to analyst estimates of C$174.40 million.
Surge Energy Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.0433 per share. This is a positive change from Surge Energy's previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 8.48%. Surge Energy's payout ratio is 32.10%.
About Surge Energy
(
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Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.
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