Raymond James Reaffirms “Outperform” Rating for Surge Energy (TSE:SGY)

Raymond James restated their outperform rating on shares of Surge Energy (TSE:SGY) in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have a C$1.50 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. CIBC cut their target price on shares of Surge Energy from C$1.75 to C$1.50 in a research report on Tuesday, October 15th. TD Securities lifted their price target on shares of Surge Energy from C$1.65 to C$1.75 and gave the stock a buy rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity lowered their price target on shares of Surge Energy from C$2.25 to C$2.00 in a report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of C$2.00.

Shares of SGY opened at C$1.05 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 51.09. The stock has a market cap of $343.67 million and a P/E ratio of -3.57. The company has a 50-day moving average of C$1.10 and a two-hundred day moving average of C$1.21. Surge Energy has a 12-month low of C$0.94 and a 12-month high of C$1.86.

Surge Energy (TSE:SGY) last announced its earnings results on Monday, November 4th. The company reported C($0.01) earnings per share (EPS) for the quarter. The business had revenue of C$97.03 million for the quarter. As a group, analysts forecast that Surge Energy will post 0.01 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0083 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 9.49%. Surge Energy’s dividend payout ratio (DPR) is presently -34.01%.

In other news, Director James Murray Pasieka purchased 350,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of C$1.25 per share, for a total transaction of C$435,750.00. Following the completion of the acquisition, the director now directly owns 910,492 shares in the company, valued at approximately C$1,133,562.54. Over the last quarter, insiders have bought 354,324 shares of company stock valued at $440,686.

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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Analyst Recommendations for Surge Energy (TSE:SGY)

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