BMO Capital Markets Lowers Surge Energy (TSE:SGY) Price Target to C$9.00

Surge Energy (TSE:SGY) had its price objective trimmed by BMO Capital Markets from C$11.00 to C$9.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Several other brokerages have also weighed in on SGY. National Bankshares increased their price objective on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Raymond James upgraded Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group lowered their price objective on Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Surge Energy presently has an average rating of “Buy” and a consensus price target of C$11.00.

Surge Energy Stock Performance

Shares of Surge Energy stock opened at C$5.25 on Friday. Surge Energy has a one year low of C$5.18 and a one year high of C$8.16. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The business’s 50 day moving average price is C$5.87 and its 200 day moving average price is C$6.40. The company has a market cap of C$526.68 million, a price-to-earnings ratio of 3.24, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.0433 per share. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 9.90%. Surge Energy’s dividend payout ratio (DPR) is presently 32.10%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.