Brokerages Set Surge Energy Inc. (TSE:SGY) Price Target at C$11.00

Surge Energy Inc. (TSE:SGY) has been given a consensus rating of “Buy” by the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$11.00.

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

Insider Buying and Selling

In related news, Director James Murray Pasieka sold 11,213 shares of Surge Energy stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99. 1.97% of the stock is currently owned by insiders.

Surge Energy Trading Up 2.2 %

Shares of SGY stock opened at C$5.66 on Friday. 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 company’s 50-day moving average price is C$5.67 and its 200-day moving average price is C$6.28. The stock has a market cap of C$567.81 million, a price-to-earnings ratio of 3.49, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.0433 dividend. This is a boost from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a dividend yield of 9.18%. The ex-dividend date was Thursday, October 31st. Surge Energy’s dividend payout ratio (DPR) 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.