Surge Energy (SGY) Price Target Cut to C$1.70 by Analysts at TD Securities

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Surge Energy (TSE:SGY) had its price target cut by TD Securities from C$1.95 to C$1.70 in a research report released on Thursday. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. CIBC dropped their price target on Surge Energy from C$3.00 to C$2.50 in a research note on Thursday, November 22nd. Laurentian dropped their price target on Surge Energy from C$2.25 to C$2.00 in a research note on Monday, January 14th. Canaccord Genuity dropped their price target on Surge Energy from C$3.75 to C$2.75 in a research note on Thursday, January 10th. Royal Bank of Canada dropped their price target on Surge Energy from C$3.00 to C$2.50 in a research note on Tuesday, January 8th. Finally, Cormark dropped their price target on Surge Energy from C$4.00 to C$3.25 in a research note on Tuesday, January 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of C$2.46.

Shares of TSE:SGY opened at C$1.38 on Thursday. The company has a market cap of $426.82 million and a P/E ratio of -72.63. The company has a quick ratio of 0.77, a current ratio of 0.92 and a debt-to-equity ratio of 37.50. Surge Energy has a 12-month low of C$1.22 and a 12-month high of C$2.76.

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.0083 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.10 annualized dividend and a dividend yield of 7.22%. Surge Energy’s dividend payout ratio (DPR) is -508.76%.

About Surge Energy

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

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Analyst Recommendations for Surge Energy (TSE:SGY)

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