Surge Energy (TSE:SGY) Lifted to Moderate Buy at Cormark

Cormark upgraded shares of Surge Energy (TSE:SGY) to a moderate buy rating in a report published on Monday morning, Zacks.com reports.

A number of other brokerages have also recently weighed in on SGY. Acumen Capital lifted their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a strong-buy rating in a research note on Thursday, August 1st. BMO Capital Markets raised their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Surge Energy currently has an average rating of Buy and an average price target of C$11.89.

Surge Energy Trading Down 1.5 %

Surge Energy stock opened at C$5.95 on Monday. The firm has a 50-day moving average price of C$6.47 and a two-hundred day moving average price of C$6.97. Surge Energy has a 52-week low of C$5.51 and a 52-week high of C$9.77. The firm has a market capitalization of C$596.90 million, a price-to-earnings ratio of 3.67, a PEG ratio of 0.59 and a beta of 2.57. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million. Sell-side analysts expect that Surge Energy will post 0.838256 earnings per share for the current year.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date is Friday, September 27th. Surge Energy’s payout ratio is 32.10%.

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.