Surge Energy (SGY) Price Target Raised to C$3.25 at National Bank Financial

Surge Energy (SGY) Price Target Raised to C$3.25 at National Bank Financial

Surge Energy (TSE:SGY) had its price target lifted by National Bank Financial from C$3.00 to C$3.25 in a research report sent to investors on Wednesday, May 16th. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets upped their price target on shares of Surge Energy from C$2.25 to C$3.00 and gave the stock an outperform rating in a research report on Wednesday, May 9th. GMP Securities upped their price target on shares of Surge Energy from C$3.00 to C$3.50 in a research report on Wednesday, May 9th. Canaccord Genuity upped their price target on shares of Surge Energy from C$3.25 to C$3.50 in a research report on Wednesday, May 9th. Finally, TD Securities dropped their price target on shares of Surge Energy from C$3.25 to C$3.00 in a research report on Wednesday, February 14th.

Surge Energy (TSE:SGY) last announced its earnings results on Tuesday, May 8th. The company reported C$0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.03 by C$0.26. The company had revenue of C$68.29 million during the quarter, compared to analyst estimates of C$64.60 million. Surge Energy had a negative net margin of 18.21% and a negative return on equity of 4.16%.

The business also recently announced a monthly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a $0.008 dividend. This represents a $0.10 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, May 30th. This is an increase from Surge Energy’s previous monthly dividend of $0.01.

In related news, Director Paul Colborne bought 25,000 shares of the stock in a transaction dated Thursday, March 29th. The shares were purchased at an average price of C$1.98 per share, with a total value of C$49,500.00. Insiders bought 68,445 shares of company stock worth $137,582 in the last three months.

Surge Energy Company Profile

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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