Surge Energy Inc. (TSE:SGY) Given Average Recommendation of “Buy” by Analysts

Surge Energy Inc. (TSE:SGY) has been assigned a consensus recommendation of “Buy” from the four analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$11.43.

A number of equities research analysts recently weighed in on the stock. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. National Bankshares boosted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. BMO Capital Markets boosted their target price 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. Canaccord Genuity Group dropped their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Finally, Acumen Capital upped their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a report on Thursday, August 1st.

Surge Energy Price Performance

SGY stock opened at C$5.84 on Friday. Surge Energy has a 12 month low of C$5.51 and a 12 month high of C$8.91. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The company has a 50-day moving average price of C$6.13 and a 200 day moving average price of C$6.69. The stock has a market cap of C$585.87 million, a PE ratio of 3.60, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.0433 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.90%. This is a boost from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s payout ratio is presently 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.