Surge Energy (TSE:SGY) Upgraded to Moderate Buy by Cormark

Cormark upgraded shares of Surge Energy (TSE:SGY) to a moderate buy rating in a research note released on Monday, Zacks.com reports.

Other research analysts have also issued reports about the stock. BMO Capital Markets raised their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Acumen Capital boosted their price target on 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of C$11.89.

Surge Energy Stock Performance

TSE SGY opened at C$6.15 on Monday. 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$5.51 and a twelve month high of C$9.77. The stock has a 50-day moving average of C$6.52 and a 200 day moving average of C$6.99. The stock has a market capitalization of C$616.97 million, a price-to-earnings ratio of 3.80, a PEG ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). The company had revenue of C$173.17 million during the quarter, compared to analyst estimates of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. Sell-side analysts anticipate that Surge Energy will post 0.8496454 EPS for the current fiscal year.

Surge Energy Announces Dividend

The firm 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 $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 8.39%. The ex-dividend date of this dividend is Friday, September 27th. Surge Energy’s dividend payout ratio is presently 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.