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

Shares of Surge Energy Inc. (TSE:SGY) have received an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$12.46.

SGY has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday. Acumen Capital raised their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a research note on Tuesday. Raymond James Financial boosted their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday. ATB Cormark Capital Markets increased their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, National Bank Financial lifted their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday.

Surge Energy Price Performance

Surge Energy stock remained flat at C$10.02 during mid-day trading on Tuesday. The company’s stock had a trading volume of 1,887,103 shares, compared to its average volume of 978,146. The firm’s 50 day simple moving average is C$9.37 and its two-hundred day simple moving average is C$8.09. Surge Energy has a 12-month low of C$5.35 and a 12-month high of C$10.46. The company has a current ratio of 0.58, a quick ratio of 0.40 and a debt-to-equity ratio of 34.75. The company has a market cap of C$1.00 billion, a price-to-earnings ratio of 143.14, a PEG ratio of 0.59 and a beta of -0.12.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. The firm had revenue of C$75.00 million for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.2%. Surge Energy’s payout ratio is 742.85%.

Insider Transactions at Surge Energy

In other news, insider Jared Ducs sold 5,125 shares of Surge Energy stock in a transaction on Monday, March 30th. The shares were sold at an average price of C$9.39, for a total transaction of C$48,123.75. Following the transaction, the insider owned 127,356 shares in the company, valued at C$1,195,872.84. This trade represents a 3.87% decrease in their position. Also, insider Margaret Ann Elekes sold 25,000 shares of Surge Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the transaction, the insider directly owned 129,921 shares in the company, valued at C$1,305,706.05. This represents a 16.14% decrease in their position. Insiders have sold a total of 69,002 shares of company stock worth $672,825 in the last three months. 1.97% of the stock is owned by insiders.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.