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

Surge Energy Inc. (TSE:SGY) has been given a consensus recommendation of “Buy” by the seven analysts that are covering the stock, Marketbeat reports. Six 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 target among brokerages that have issued ratings on the stock in the last year is C$11.93.

Several research firms recently issued reports on SGY. Acumen Capital boosted their target price on shares of 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. BMO Capital Markets lifted their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. National Bankshares increased their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Finally, Cormark upgraded Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd.

Surge Energy Price Performance

Shares of SGY opened at C$6.49 on Monday. The business’s 50-day moving average is C$6.34 and its two-hundred day moving average is C$6.91. The company has a market capitalization of C$651.08 million, a P/E ratio of 4.01, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy has a fifty-two week low of C$5.51 and a fifty-two 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 posted its 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 company had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.52 annualized dividend and a dividend yield of 7.95%. 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.