Surge Energy (TSE:SGY) Given New C$1.75 Price Target at CIBC
Surge Energy (TSE:SGY) had its price objective lowered by CIBC from C$2.25 to C$1.75 in a report released on Thursday morning, BayStreet.CA reports.
Several other research firms have also recently commented on SGY. TD Securities cut Tricon Capital Group from an action list buy rating to a buy rating and cut their price target for the stock from C$14.50 to C$13.50 in a research note on Thursday, May 9th. Canaccord Genuity restated a buy rating and set a $7.50 price target on shares of in a research note on Tuesday, July 9th. National Bank Financial cut their price target on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. GMP Securities restated a buy rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Finally, Raymond James restated a hold rating on shares of PrairieSky Royalty in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of C$2.34.
SGY stock opened at C$1.25 on Thursday. The firm has a market capitalization of $383.06 million and a P/E ratio of -4.24. Surge Energy has a twelve month low of C$1.06 and a twelve month high of C$2.73. The company has a 50 day moving average price of C$1.23. The company has a debt-to-equity ratio of 56.97, a current ratio of 0.79 and a quick ratio of 0.69.
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 paid a dividend of $0.0083 per share. This represents a $0.10 annualized dividend and a dividend yield of 7.97%. The ex-dividend date is Tuesday, July 30th. Surge Energy’s dividend payout ratio (DPR) is presently -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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