Brokerages Set Surge Energy Inc. (TSE:SGY) PT at C$11.79

Shares of Surge Energy Inc. (TSE:SGY) have been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$11.79.

SGY has been the subject of several analyst reports. BMO Capital Markets set a C$10.00 price target on shares of Surge Energy and gave the company an “outperform” rating in a report on Thursday, March 21st. Raymond James decreased their price objective on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a report on Friday, January 19th. National Bankshares cut their target price on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Finally, ATB Capital decreased their price target on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research note on Thursday, January 18th.

Surge Energy Price Performance

SGY opened at C$7.24 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 33.44. The company’s 50-day moving average price is C$7.40 and its 200 day moving average price is C$7.30. Surge Energy has a fifty-two week low of C$5.89 and a fifty-two week high of C$9.77. The firm has a market cap of C$728.20 million, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.53). The company had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. As a group, sell-side analysts expect that Surge Energy will post 1.0050697 earnings per share for the current year.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 6.63%. The ex-dividend date is Monday, April 29th. Surge Energy’s dividend payout ratio (DPR) is presently 29.63%.

Insider Buying and Selling at Surge Energy

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total value of C$99,869.70. 1.91% of the stock is owned by corporate insiders.

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.