Surge Energy Inc. (TSE:SGY) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Surge Energy Inc. (TSE:SGY) have been given an average rating of “Buy” by the four brokerages that are presently covering the company, MarketBeat Ratings 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 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$11.43.

Several brokerages recently weighed in on SGY. Canaccord Genuity Group decreased their target price on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. National Bankshares upped their target price on Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Cormark raised Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. BMO Capital Markets increased their price objective on Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th.

Surge Energy Price Performance

Shares of TSE SGY opened at C$5.84 on Friday. Surge Energy has a 1-year low of C$5.51 and a 1-year high of C$8.91. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The business’s fifty day moving average price is C$6.13 and its two-hundred day moving average price is C$6.69. The firm has a market capitalization of C$585.87 million, a PE ratio of 3.60, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be 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 is Thursday, October 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.90%. Surge Energy’s dividend payout ratio is currently 32.10%.

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.