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

Shares of Surge Energy Inc. (TSE:SGY) have been assigned an average rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$12.46.

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

Surge Energy Trading Up 0.4%

TSE:SGY opened at C$9.22 on Friday. Surge Energy has a 12 month low of C$6.05 and a 12 month high of C$10.65. The firm has a fifty day simple moving average of C$9.73 and a 200-day simple moving average of C$8.42. 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 company has a market capitalization of C$923.79 million, a P/E ratio of 131.71, a PEG ratio of 0.59 and a beta of -0.42.

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

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be given a dividend of $0.0433 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Surge Energy’s payout ratio is currently 742.85%.

Insider Activity at Surge Energy

In other Surge Energy news, Director Michelle Gramatke sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total value of C$105,100.00. Following the completion of the transaction, the director owned 26,180 shares in the company, valued at approximately C$275,151.80. This represents a 27.64% decrease in their ownership of the stock. Also, Director Allison Michelle Maher sold 9,878 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$10.49, for a total transaction of C$103,620.22. Following the completion of the transaction, the director owned 18,725 shares of the company’s stock, valued at approximately C$196,425.25. This trade represents a 34.53% decrease in their position. Insiders sold a total of 111,604 shares of company stock valued at $1,141,737 over the last ninety days. Corporate insiders own 1.97% of the company’s stock.

Surge Energy Company Profile

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.