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

Surge Energy Inc. (TSE:SGY) has earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$11.89.

SGY has been the subject of several recent research reports. Acumen Capital boosted their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

Surge Energy Stock Down 0.5 %

Surge Energy stock opened at C$6.17 on Thursday. 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 firm has a market cap of C$618.97 million, a PE ratio of 3.81, a P/E/G ratio of 0.59 and a beta of 2.57. Surge Energy has a twelve month low of C$5.51 and a twelve month high of C$9.77. The firm’s 50 day moving average price is C$6.61 and its two-hundred day moving average price is C$7.01.

Surge Energy (TSE:SGY) last posted its earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.02). The business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million. Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. On average, research analysts predict that Surge Energy will post 0.8496454 EPS for the current fiscal year.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.043 per share. This represents a $0.52 annualized dividend and a dividend yield of 8.36%. The ex-dividend date is Friday, September 27th. Surge Energy’s dividend payout ratio is currently 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.