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

Surge Energy Inc. (TSE:SGY) has earned an average rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$11.79.

A number of analysts have recently issued reports on SGY shares. ATB Capital cut their target price on shares of 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. National Bankshares lowered 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. Raymond James decreased their price objective on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Finally, BMO Capital Markets set a C$10.00 price objective on shares of Surge Energy and gave the stock an “outperform” rating in a research note on Thursday, March 21st.

Surge Energy Stock Performance

SGY opened at C$7.10 on Thursday. The company has a debt-to-equity ratio of 33.44, a quick ratio of 0.40 and a current ratio of 0.52. The business’s 50-day simple moving average is C$7.39 and its 200 day simple moving average is C$7.33. The firm has a market capitalization of C$714.12 million, a PE ratio of 4.38, a PEG ratio of 0.59 and a beta of 2.66. Surge Energy has a 52-week low of C$5.89 and a 52-week high of C$9.77.

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

Surge Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.04 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.48 annualized dividend and a dividend yield of 6.76%. Surge Energy’s payout ratio is 29.63%.

Insider Buying and Selling

In other news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the company’s stock in a transaction 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 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.