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

Shares of Surge Energy Inc. (TSE:SGY) have been assigned an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$11.79.

A number of analysts recently commented on SGY shares. BMO Capital Markets set a C$10.00 target price on shares of Surge Energy and gave the stock an “outperform” rating in a report on Thursday, March 21st. Raymond James cut their price objective on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. National Bankshares cut their price target on shares of Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Finally, ATB Capital decreased their price objective on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research note on Thursday, January 18th.

Surge Energy Stock Down 4.3 %

Shares of TSE:SGY opened at C$7.15 on Thursday. The company has a debt-to-equity ratio of 33.44, a quick ratio of 0.40 and a current ratio of 0.52. Surge Energy has a 1 year low of C$5.89 and a 1 year high of C$9.77. The stock has a 50-day simple moving average of C$7.38 and a 200-day simple moving average of C$7.36. The stock has a market capitalization of C$719.15 million, a P/E ratio of 4.41, a PEG ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. The business had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million. Equities analysts forecast that Surge Energy will post 1.0050697 earnings per share for the current year.

Surge Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend is Monday, April 29th. Surge Energy’s dividend payout ratio (DPR) is currently 29.63%.

Insider Activity

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of Surge Energy stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. 1.91% of the stock is currently owned by corporate insiders.

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.