Surge Energy Inc. (TSE:SGY) Receives C$11.89 Average PT from Analysts

Surge Energy Inc. (TSE:SGY) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$11.89.

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

Surge Energy Stock Down 1.8 %

SGY stock opened at C$6.04 on Thursday. The company has a market cap of C$605.93 million, a price-to-earnings ratio of 3.73, 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 business has a 50 day moving average price of C$6.50 and a two-hundred day moving average price of C$6.98. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47.

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

Surge Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.54%. Surge Energy’s dividend payout ratio (DPR) 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.