Surge Energy Inc. (TSE:SGY) Receives C$11.43 Consensus Price Target from Analysts

Shares of Surge Energy Inc. (TSE:SGY) have been assigned a consensus rating of “Buy” from the four brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$11.43.

Several research firms have issued reports on SGY. Canaccord Genuity Group dropped their target price on Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. Finally, National Bankshares upped their price target on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th.

Surge Energy Trading Up 0.5 %

Surge Energy stock opened at C$5.57 on Tuesday. The stock has a 50-day moving average of C$5.96 and a two-hundred day moving average of C$6.47. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. Surge Energy has a one year low of C$5.32 and a one year high of C$8.16. The stock has a market cap of C$558.78 million, a PE ratio of 3.42, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.0433 dividend. The ex-dividend date was Thursday, October 31st. This is a boost from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 dividend on an annualized basis and a yield of 9.33%. Surge Energy’s dividend payout ratio (DPR) is currently 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.