Surge Energy (TSE:SGY) Cut to Market Perform at Raymond James

Raymond James downgraded shares of Surge Energy (TSE:SGY) from an outperform rating to a market perform rating in a report published on Wednesday, Marketbeat Ratings reports. Raymond James currently has C$6.00 price target on the stock, down from their previous price target of C$8.50.

Separately, BMO Capital Markets reduced their price target on shares of Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th.

Surge Energy Trading Up 1.8 %

Shares of Surge Energy stock opened at C$4.58 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. Surge Energy has a 12-month low of C$4.37 and a 12-month high of C$8.14. The company has a market capitalization of C$460.58 million, a price-to-earnings ratio of -5.74, a PEG ratio of 0.59 and a beta of 2.54. The firm’s 50-day moving average price is C$5.50 and its two-hundred day moving average price is C$5.72.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.0433 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.34%. Surge Energy’s dividend payout ratio (DPR) is currently -65.21%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.