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

Surge Energy Inc. (TSE:SGY) has earned an average recommendation of “Buy” from the four ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$11.00.

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

Insider Buying and Selling

In other Surge Energy news, Director James Murray Pasieka sold 11,213 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99. Insiders own 1.97% of the company’s stock.

Surge Energy Stock Performance

Shares of SGY stock opened at C$5.54 on Friday. The stock has a 50 day simple moving average of C$5.67 and a 200-day simple moving average of C$6.28. Surge Energy has a 12-month low of C$4.94 and a 12-month high of C$8.16. The company has a market cap of C$555.77 million, a price-to-earnings ratio of 3.42, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. 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 Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, October 31st. 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 9.38%. 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.