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

Shares of Surge Energy Inc. (TSE:SGY) have received an average recommendation of “Buy” from the four brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$11.00.

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

Surge Energy Stock Up 2.2 %

Surge Energy stock opened at C$6.12 on Friday. The firm has a market capitalization of C$613.96 million, a P/E ratio of 3.78, a P/E/G 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 has a twelve month low of C$4.94 and a twelve month high of C$8.16. The stock’s fifty day simple moving average is C$5.65 and its 200-day simple moving average is C$6.24.

Surge Energy Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.0433 per share. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 8.49%. Surge Energy’s dividend payout ratio (DPR) is presently 32.10%.

Insider Activity

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

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.