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.
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