TD Securities Raises Surge Energy (TSE:SGY) Price Target to C$1.75

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Surge Energy (TSE:SGY) had its price objective hoisted by TD Securities from C$1.65 to C$1.75 in a research report released on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

SGY has been the subject of a number of other research reports. National Bank Financial decreased their price objective on shares of Surge Energy from C$2.25 to C$1.75 and set an outperform rating for the company in a report on Tuesday, June 25th. CIBC decreased their price objective on shares of Surge Energy from C$2.25 to C$1.75 in a report on Thursday, July 18th. Raymond James restated an outperform rating and set a C$1.75 price objective on shares of Surge Energy in a report on Tuesday. GMP Securities decreased their price objective on shares of Surge Energy from C$1.95 to C$1.75 in a report on Friday, June 28th. Finally, Canaccord Genuity decreased their price objective on shares of Surge Energy from C$2.25 to C$2.00 in a report on Tuesday, July 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Surge Energy currently has a consensus rating of Buy and a consensus price target of C$2.32.

TSE SGY opened at C$1.07 on Tuesday. Surge Energy has a 52-week low of C$1.06 and a 52-week high of C$2.73. The company has a 50-day simple moving average of C$1.24 and a 200 day simple moving average of C$1.32. 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 company has a market capitalization of $357.94 million and a PE ratio of -3.63.

The firm also recently announced a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were paid a $0.0083 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $0.10 annualized dividend and a dividend yield of 9.31%. Surge Energy’s payout ratio is -33.61%.

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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Analyst Recommendations for Surge Energy (TSE:SGY)

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