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

Shares of Surge Energy Inc. (TSE:SGY) have been given a consensus rating of “Buy” by the four ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$11.00.

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

Surge Energy Price Performance

TSE:SGY opened at C$6.12 on Friday. Surge Energy has a one year low of C$4.94 and a one year high of C$8.16. The stock has a market cap of C$613.96 million, a PE ratio of 3.78, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The stock has a 50 day moving average price of C$5.65 and a 200 day moving average price of C$6.24.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.0433 dividend. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a dividend yield of 8.49%. The ex-dividend date of this dividend was Thursday, October 31st. Surge Energy’s dividend payout ratio is currently 32.10%.

Insider Activity at Surge Energy

In related news, Director James Murray Pasieka sold 11,213 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total transaction of C$58,643.99. 1.97% of the stock is owned by insiders.

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.