Surge Energy Inc. (TSE:SGY) Receives Average Rating of “Buy” from Brokerages

Shares of Surge Energy Inc. (TSE:SGY) have earned a consensus rating of “Buy” from the four ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$11.00.

A number of equities research analysts have issued reports on the company. BMO Capital Markets lowered their price target on Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th. Raymond James upgraded Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. National Bankshares raised their price target on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Canaccord Genuity Group reduced their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Finally, Cormark raised shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd.

Insider Activity

In related news, Director James Murray Pasieka sold 11,213 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total value of C$58,643.99. Insiders own 1.97% of the company’s stock.

Surge Energy Stock Up 2.1 %

Shares of TSE SGY opened at C$5.78 on Friday. The stock has a market capitalization of C$579.85 million, a PE ratio of 3.57, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The firm has a fifty day moving average of C$5.65 and a 200-day moving average of C$6.25. Surge Energy has a 52-week low of C$4.94 and a 52-week high of C$8.16.

Surge Energy Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date was Thursday, October 31st. This is a boost from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s dividend payout ratio is currently 32.10%.

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.