Surge Energy (TSE:SGY) Receives “Top Pick” Rating from Cormark

Cormark reissued their top pick rating on shares of Surge Energy (TSE:SGYGet Rating) in a research report sent to investors on Wednesday, Marketbeat reports. Cormark currently has a C$15.50 price target on the stock.

Other analysts have also issued reports about the company. ATB Capital reiterated an outperform rating and issued a C$15.00 price objective on shares of Surge Energy in a research report on Thursday, October 27th. National Bankshares decreased their target price on Surge Energy to C$14.00 in a research report on Friday, September 30th.

Surge Energy Stock Performance

Shares of TSE:SGY opened at C$9.33 on Wednesday. The business has a fifty day moving average of C$9.16 and a 200-day moving average of C$9.65. The company has a debt-to-equity ratio of 43.07, a quick ratio of 0.40 and a current ratio of 0.43. The firm has a market cap of C$783.51 million and a PE ratio of 8.18. Surge Energy has a twelve month low of C$3.74 and a twelve month high of C$13.68.

Surge Energy (TSE:SGYGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported C$0.91 EPS for the quarter, topping analysts’ consensus estimates of C$0.49 by C$0.42. The firm had revenue of C$179.30 million during the quarter. On average, equities research analysts predict that Surge Energy will post 1.55 EPS for the current fiscal year.

Surge Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.035 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.42 annualized dividend and a dividend yield of 4.50%. Surge Energy’s payout ratio is currently 12.28%.

About Surge Energy

(Get Rating)

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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