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Musk eclipses market weaknessPowell’s comments relieves marketsStimulus hopes fuel positive end to weekTrading at discount to NAV. Out of favor small cap name. TMX completion will benefit company. Benefiting from fish bone drilling technique. New wells paying out in months. At $80 oil, company trading at 3x cash flow yield. Expecting a 40% upside from current share price.
Generating good cash flow that will feed the dividend, share buybacks and production growth. Good managers and positioning. They've had good drilling results. SGY can make money if oil is above $75.
(Analysts’ price target is $12.80)Owns ~9% of company.
Quality company.
Good exposure to "Fish bone" drilling.
Not on institutional investor radar.
Expecting share price to rise to ~$16.
Good exposure to multi-lateral drilling. So you get better productivity for a slightly higher cost. Excellent results. Assets are very good. Dividend is safe. A patient hold. Upside once mid-caps are in favour again. See his Top Picks.
EPS of $0.15 missed estimates of $0.1733 and revenues of $152.66M missed estimates of $158.8M. SGY delivered an increase in production of more than 22% over the prior year, and despite a drop in the price of oil, Surge's cash flow from operations increased by 4%. Management noted for its outlook it intends to continue to pay down debts, conduct share buybacks, and the possibility of a special dividend. The results were OK, it has traded sideways for roughly a year, but it is paying a ~6.0% dividend. Like most oil and gas stocks right now, it is trading at a cheap valuation, paying a good dividend, and has a strong balance sheet. We like the company's potential for a special dividend, and it is well-capitalized. If an investor has a positive outlook on the price of oil, we would be comfortable buying here.
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Owns 9.9% of company.
Having success on new drilling technique.
Lots of land for future drilling.
Expecting return of capital to shareholders.
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The results were positive. Production was up 22%. Cash flow more than doubled on a per share basis. The dividend should be reinstated this year. Results were ahead of estimates and the stock has taken off. Unlock Premium - Try 5i Free
Surge Energy Inc is a Canadian stock, trading under the symbol SGY-T on the Toronto Stock Exchange (SGY-CT). It is usually referred to as TSX:SGY or SGY-T
In the last year, 7 stock analysts published opinions about SGY-T. 5 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Surge Energy Inc.
Surge Energy Inc was recommended as a Top Pick by on . Read the latest stock experts ratings for Surge Energy Inc.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
7 stock analysts on Stockchase covered Surge Energy Inc In the last year. It is a trending stock that is worth watching.
On 2023-12-01, Surge Energy Inc (SGY-T) stock closed at a price of $7.55.
Levered to oil price. Changed asset base toward profitability and scalability. Needs to improve drilling efficiencies and margins. Good job reducing debt. Probably by early 2024, can move return of free cashflow to shareholders from 25% to 50%. Yields just over 5%. He's focused on bigger players with more consistent dividend payments.