Brokerages Set Surge Energy Inc. (TSE:SGY) Price Target at C$11.00

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

A number of research firms have recently issued reports on SGY. BMO Capital Markets reduced their price target on shares of Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. Canaccord Genuity Group reduced their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Cormark raised Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Finally, National Bankshares lifted their price target on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th.

Surge Energy Price Performance

Surge Energy stock opened at C$5.78 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The company has a 50-day moving average price of C$5.65 and a 200 day moving average price of C$6.25. Surge Energy has a 12-month low of C$4.94 and a 12-month high of C$8.16. The stock has a market cap of C$579.85 million, a P/E ratio of 3.57, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend was Thursday, October 31st. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s dividend payout ratio (DPR) is currently 32.10%.

Insider Buying and Selling

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

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.