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

Shares of Surge Energy Inc. (TSE:SGY) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$11.79.

Several equities analysts have recently weighed in on SGY shares. National Bankshares decreased 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 report on Wednesday, January 10th. Raymond James decreased their target price on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Stifel Nicolaus decreased their target price on Surge Energy from C$12.50 to C$12.00 in a research report on Monday, December 11th. BMO Capital Markets set a C$10.00 target price on Surge Energy and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, ATB Capital decreased their target price on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a research report on Thursday, January 18th.

Insider Activity at Surge Energy

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. Insiders own 1.91% of the company’s stock.

Surge Energy Stock Performance

TSE SGY opened at C$8.09 on Friday. The stock has a market capitalization of C$813.69 million, a price-to-earnings ratio of 4.99, a PEG ratio of 0.59 and a beta of 2.66. The stock has a 50-day moving average of C$6.92 and a 200 day moving average of C$7.51. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 33.44. Surge Energy has a twelve month low of C$5.89 and a twelve month high of C$9.77.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). The business had revenue of C$168.45 million for the quarter, compared to analysts’ expectations of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. Sell-side analysts anticipate that Surge Energy will post 0.9255702 EPS for the current fiscal year.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.48 annualized dividend and a dividend yield of 5.93%. Surge Energy’s dividend payout ratio is presently 29.63%.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. It holds interest in the Sparky properties located between Provost and Wainwright in eastern Alberta and western Saskatchewan; the Southeast Saskatchewan properties are located in the Southeast corner of the Province; the Carbonates properties located in the Northern Alberta; the Valhalla/Wembley property located in northwestern Alberta; the Shaunavon properties located to the southwest of Swift Current, Saskatchewan; the Manitoba properties located in the west of Brandon, Manitoba; and the Minors properties located across the Alberta and Saskatchewan.