Surge Energy (SGY) Given New C$3.00 Price Target at BMO Capital Markets

Surge Energy (TSE:SGY) had its price objective decreased by BMO Capital Markets from C$3.50 to C$3.00 in a report released on Tuesday morning.

Several other equities research analysts have also commented on the stock. National Bank Financial upgraded shares of Surge Energy from an underperform rating to an outperform rating and set a C$4.00 price target on the stock in a research note on Friday, October 26th. TD Securities lifted their price target on shares of Surge Energy from C$3.25 to C$3.50 and gave the stock a buy rating in a research note on Friday, September 7th. Industrial Alliance Securities reiterated a buy rating and set a C$4.00 price target on shares of Surge Energy in a research note on Friday, September 21st. Cormark lifted their price target on shares of Surge Energy from C$4.00 to C$4.50 in a research note on Tuesday, October 9th. Finally, Raymond James lifted their price target on shares of Surge Energy from C$3.25 to C$3.50 and gave the stock an outperform rating in a research note on Friday, September 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of C$3.50.

Shares of SGY opened at C$1.95 on Tuesday. Surge Energy has a twelve month low of C$1.58 and a twelve month high of C$2.76.

Surge Energy (TSE:SGY) last announced its quarterly earnings data on Wednesday, August 8th. The company reported C$0.01 earnings per share for the quarter. Surge Energy had a negative net margin of 18.21% and a negative return on equity of 4.16%. The business had revenue of C$87.09 million for the quarter.

The business also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 15th will be paid a dividend of $0.0083 per share. The ex-dividend date is Tuesday, October 30th. This represents a $0.10 annualized dividend and a yield of 5.11%.

In other Surge Energy news, Director Keith Elliott Macdonald sold 17,805 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$2.12, for a total transaction of C$37,746.60. Also, Director Paul Colborne acquired 25,000 shares of the stock in a transaction on Friday, September 7th. The shares were acquired at an average cost of C$2.28 per share, for a total transaction of C$57,000.00. Insiders have purchased a total of 110,920 shares of company stock worth $267,033 over the last quarter.

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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