Surge Energy (TSE:SGY) Trading Down 2.4%

Surge Energy Inc. (TSE:SGY)’s stock price traded down 2.4% on Tuesday . The stock traded as low as C$5.68 and last traded at C$5.68. 47,125 shares changed hands during trading, a decline of 89% from the average session volume of 443,497 shares. The stock had previously closed at C$5.82.

Analyst Ratings Changes

A number of research firms recently commented on SGY. 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 report on Wednesday, July 31st. Acumen Capital increased their price objective on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Surge Energy currently has a consensus rating of “Buy” and a consensus target price of C$11.89.

Surge Energy Trading Down 4.1 %

The company’s 50-day moving average is C$6.75 and its 200 day moving average is C$7.05. 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 firm has a market cap of C$559.79 million, a PE ratio of 3.59, a P/E/G ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last announced its earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share (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 for the quarter, compared to analyst estimates of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. As a group, sell-side analysts predict that Surge Energy Inc. will post 0.581262 EPS for the current year.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Saturday, August 31st will be paid a $0.043 dividend. This represents a $0.52 annualized dividend and a yield of 9.25%. The ex-dividend date of this dividend is Thursday, August 29th. Surge Energy’s dividend payout ratio is currently 32.10%.

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.