Surge Energy (TSE:SGY) Price Target Raised to C$11.25 at National Bankshares

Surge Energy (TSE:SGY) had its price objective hoisted by National Bankshares from C$11.00 to C$11.25 in a report issued on Friday morning, BayStreet.CA reports.

A number of other brokerages also recently issued reports on SGY. Acumen Capital raised their price target 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. BMO Capital Markets lifted their target price on 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. Finally, Cormark upgraded shares of Surge Energy to a moderate buy rating in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$11.93.

Surge Energy Stock Up 0.8 %

TSE SGY opened at C$6.03 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.40 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 stock’s 50 day moving average is C$6.43 and its 200 day moving average is C$6.97. The stock has a market cap of C$604.93 million, a PE ratio of 3.72, a P/E/G ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last issued 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 during the quarter, compared to the consensus estimate of C$174.40 million. Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. Research analysts predict that Surge Energy will post 0.838256 EPS for the current fiscal year.

Surge Energy Announces Dividend

The firm 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. This represents a $0.52 annualized dividend and a yield of 8.56%. The ex-dividend date of this dividend is Friday, September 27th. Surge Energy’s payout ratio is 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.