Analysts Set Surge Energy Inc. (TSE:SGY) Price Target at C$11.79

Surge Energy Inc. (TSE:SGY) has received an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$11.79.

SGY has been the topic of several research analyst reports. National Bankshares reduced their price objective on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets set a C$10.00 price objective on shares of Surge Energy and gave the stock an “outperform” rating in a research report on Thursday, March 21st. ATB Capital cut their target price on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Finally, Raymond James lowered their price target on shares of Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a report on Friday, January 19th.

Insiders Place Their Bets

In other news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total transaction of C$99,869.70. Company insiders own 1.91% of the company’s stock.

Surge Energy Stock Performance

Shares of TSE:SGY opened at C$7.14 on Thursday. The company’s 50 day moving average price is C$7.41 and its two-hundred day moving average price is C$7.29. Surge Energy has a 12-month low of C$5.89 and a 12-month high of C$9.77. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 33.44. The firm has a market cap of C$718.14 million, a PE ratio of 4.41, a PEG ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.53). Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. The firm had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. Equities research analysts predict that Surge Energy will post 1.0050697 earnings per share for the current year.

Surge Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Monday, April 29th. Surge Energy’s dividend payout ratio is currently 29.63%.

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.