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

Shares of Surge Energy Inc. (TSE:SGY) have earned an average rating of “Buy” from the four research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$11.00.

SGY has been the topic of several analyst reports. BMO Capital Markets reduced their price target on Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th. National Bankshares boosted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Canaccord Genuity Group cut their price target on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Cormark upgraded Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th.

Insider Transactions at Surge Energy

In related news, Director James Murray Pasieka sold 11,213 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were 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 Trading Up 1.1 %

Shares of SGY stock opened at C$5.54 on Friday. Surge Energy has a fifty-two week low of C$4.94 and a fifty-two week high of C$8.16. The firm has a market capitalization of C$555.77 million, a P/E ratio of 3.42, a PEG ratio of 0.59 and a beta of 2.54. The stock’s fifty day moving average is C$5.67 and its two-hundred day moving average is C$6.28. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50.

Surge Energy Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.0433 per share. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.38%. The ex-dividend date was Thursday, October 31st. Surge Energy’s dividend payout ratio (DPR) is currently 32.10%.

About Surge Energy

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.