Surge Energy (TSE:SGY) PT Lowered to C$1.75 at CIBC
Surge Energy (TSE:SGY) had its price target decreased by CIBC from C$2.25 to C$1.75 in a research report report published on Thursday morning, BayStreet.CA reports.
Several other research analysts have also recently commented on SGY. GMP Securities reiterated a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. TD Securities cut shares of Tricon Capital Group from an action list buy rating to a buy rating and decreased their target price for the stock from C$14.50 to C$13.50 in a report on Thursday, May 9th. National Bank Financial decreased their target price 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. Raymond James reiterated a hold rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. Finally, Canaccord Genuity reiterated a buy rating and issued a $7.50 target price on shares of in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of C$2.34.
Shares of SGY opened at C$1.25 on Thursday. Surge Energy has a one year low of C$1.06 and a one year high of C$2.73. The stock has a 50-day moving average price of C$1.23. The firm has a market capitalization of $383.06 million and a PE ratio of -4.24. 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 business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be given a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date is Tuesday, July 30th. Surge Energy’s dividend payout ratio (DPR) is -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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