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

Surge Energy Inc. (TSE:SGY) has been given an average recommendation of “Buy” by the four research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$11.43.

A number of research analysts have recently commented on SGY shares. Canaccord Genuity Group lowered their target price on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Cormark raised Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. National Bankshares boosted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Finally, Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th.

Surge Energy Price Performance

SGY opened at C$5.36 on Tuesday. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The stock has a market capitalization of C$537.72 million, a PE ratio of 3.31, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The stock’s 50 day moving average price is C$5.93 and its 200-day moving average price is C$6.45. Surge Energy has a 52-week low of C$5.32 and a 52-week high of C$8.16.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.0433 dividend. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 dividend on an annualized basis and a dividend yield of 9.69%. The ex-dividend date of this dividend was Thursday, October 31st. Surge Energy’s dividend payout ratio is presently 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.