Shares of Surge Energy Inc. (TSE:SGY – Get Free Report) have been given a consensus recommendation of “Buy” by the five research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$11.58.
A number of research analysts recently weighed in on the company. Cormark raised Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. National Bankshares increased their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Thursday. Acumen Capital upped their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets raised 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 report on Wednesday, July 31st.
Read Our Latest Stock Report on Surge Energy
Surge Energy Price Performance
Surge Energy (TSE:SGY – Get Free Report) last issued its 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 firm 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 net margin of 14.28% and a negative return on equity of 10.03%.
Surge Energy Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date is Thursday, October 31st. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. 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.
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