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

Shares of Surge Energy Inc. (TSE:SGY) have earned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$12.46.

A number of equities research analysts recently commented on the stock. Acumen Capital lifted their price target on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. National Bank Financial lifted their price target on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. ATB Cormark Capital Markets lifted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Raymond James Financial lifted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd.

Insider Buying and Selling at Surge Energy

In other Surge Energy news, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total transaction of C$103,620.22. Following the sale, the director owned 18,725 shares of the company’s stock, valued at C$196,425.25. The trade was a 34.53% decrease in their position. Also, insider Margaret Ann Elekes sold 14,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.65, for a total transaction of C$149,100.00. Following the sale, the insider directly owned 100,921 shares in the company, valued at C$1,074,808.65. The trade was a 12.18% decrease in their position. Over the last quarter, insiders sold 110,603 shares of company stock worth $1,113,668. 1.97% of the stock is owned by insiders.

Surge Energy Trading Down 4.2%

TSE:SGY opened at C$10.07 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.40 and a debt-to-equity ratio of 34.75. The stock has a market capitalization of C$1.01 billion, a PE ratio of 143.86, a price-to-earnings-growth ratio of 0.59 and a beta of -0.42. The firm’s 50 day moving average is C$9.50 and its 200 day moving average is C$8.18. Surge Energy has a 12 month low of C$5.53 and a 12 month high of C$10.65.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) EPS for the quarter. The company had revenue of C$75.00 million during the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a dividend of $0.0433 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.2%. Surge Energy’s payout ratio is presently 742.85%.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.