Surge Energy Inc (TSE:SGY) Cut to Neutral at Eight Capital

Eight Capital downgraded shares of Surge Energy Inc (TSE:SGY) from a buy rating to a neutral rating in a research report released on Friday, October 27th. The brokerage currently has C$2.60 price target on the stock, down from their previous price target of C$2.90.

Separately, National Bank Financial decreased their target price on shares of Surge Energy from C$3.25 to C$3.00 and set an outperform rating on the stock in a report on Friday, October 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Surge Energy presently has a consensus rating of Buy and a consensus price target of C$3.23.

Shares of Surge Energy (TSE SGY) opened at C$2.20 on Friday. Surge Energy has a one year low of C$1.91 and a one year high of C$3.45.

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The firm also recently announced a monthly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were paid a dividend of $0.0079 per share. This represents a $0.10 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Thursday, September 28th. Surge Energy’s payout ratio is currently -202.08%.

Surge Energy Company Profile

Surge Energy Inc is a Canada-based exploration & production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting it assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. It assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.

Analyst Recommendations for Surge Energy (TSE:SGY)

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