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

Shares of Surge Energy Inc. (TSE:SGY) have earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$11.89.

A number of research analysts have recently weighed in on SGY shares. BMO Capital Markets increased their price target on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Acumen Capital increased their target price on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Cormark upgraded Surge Energy to a “moderate buy” rating in a research report on Monday.

Surge Energy Stock Down 1.8 %

TSE SGY opened at C$6.04 on Thursday. The stock has a fifty day moving average of C$6.50 and a 200-day moving average of C$6.98. The stock has a market capitalization of C$605.93 million, a P/E ratio of 3.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.57. Surge Energy has a 52 week low of C$5.51 and a 52 week high of C$9.77. 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 (TSE:SGY) last issued its quarterly 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). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The business had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million. On average, equities research analysts forecast that Surge Energy will post 0.8496454 EPS for the current year.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.043 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.54%. Surge Energy’s dividend payout ratio (DPR) 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.