Surge Energy (TSE:SGY) Earns “Outperform” Rating from Raymond James
Raymond James reissued their outperform rating on shares of Surge Energy (TSE:SGY) in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a C$1.50 target price on the stock.
SGY has been the topic of several other research reports. TD Securities upped their price objective on shares of Surge Energy from C$1.65 to C$1.75 and gave the company a buy rating in a report on Tuesday, August 13th. Canaccord Genuity decreased their target price on shares of Surge Energy from C$2.25 to C$2.00 in a research report on Tuesday, July 9th. Finally, CIBC decreased their target price on shares of Surge Energy from C$1.75 to C$1.50 in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of C$2.00.
Shares of TSE SGY opened at C$1.05 on Wednesday. The firm’s 50-day moving average price is C$1.10 and its 200-day moving average price is C$1.21. Surge Energy has a 1-year low of C$0.94 and a 1-year high of C$1.86. The firm has a market capitalization of $343.67 million and a P/E ratio of -3.32. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 52.09.
The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be given a dividend of $0.0083 per share. This represents a $0.10 annualized dividend and a dividend yield of 9.49%. The ex-dividend date is Wednesday, October 30th. Surge Energy’s payout ratio is presently -31.65%.
In other Surge Energy news, Director James Murray Pasieka bought 350,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of C$1.25 per share, with a total value of C$435,750.00. Following the completion of the transaction, the director now directly owns 910,492 shares in the company, valued at approximately C$1,133,562.54. Over the last three months, insiders have bought 354,324 shares of company stock valued at $440,686.
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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