Cormark Upgrades Surge Energy (TSE:SGY) to Moderate Buy

Cormark upgraded shares of Surge Energy (TSE:SGY) to a moderate buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Acumen Capital raised their target price on Surge Energy from C$12.25 to C$12.75 and gave the stock a strong-buy rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of C$11.89.

Surge Energy Trading Down 1.5 %

Shares of TSE SGY opened at C$5.95 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. Surge Energy has a 12 month low of C$5.51 and a 12 month high of C$9.77. The company has a market cap of C$596.90 million, a price-to-earnings ratio of 3.67, a P/E/G ratio of 0.59 and a beta of 2.57. The business has a fifty day simple moving average of C$6.47 and a 200-day simple moving average of C$6.97.

Surge Energy (TSE:SGY) last announced its earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.02). The firm had revenue of C$173.17 million during the quarter, compared to analyst estimates of C$174.40 million. Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. Sell-side analysts predict that Surge Energy will post 0.838256 EPS for the current year.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.52 annualized dividend and a dividend yield of 8.67%. Surge Energy’s dividend payout ratio is 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.