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

Shares of Surge Energy Inc. (TSE:SGY) have received an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$11.79.

A number of equities analysts have commented on SGY shares. 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 report on Thursday, March 21st. Raymond James reduced their price objective on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a report on Friday, January 19th. National Bankshares reduced their price target on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Finally, ATB Capital dropped their target price on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a report on Thursday, January 18th.

Insider Buying and Selling

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total transaction of C$99,869.70. 1.91% of the stock is currently owned by company insiders.

Surge Energy Stock Performance

Shares of TSE SGY opened at C$7.24 on Thursday. Surge Energy has a 52 week low of C$5.89 and a 52 week high of C$9.77. The stock has a market capitalization of C$728.20 million, a PE ratio of 4.47, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. 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 stock has a 50 day moving average price of C$7.40 and a 200 day moving average price of C$7.30.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.53). The firm had revenue of C$168.45 million for the quarter, compared to analyst estimates of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. Analysts predict that Surge Energy will post 1.0050697 earnings per share for the current fiscal year.

Surge Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 6.63%. The ex-dividend date is Monday, April 29th. Surge Energy’s dividend payout ratio is currently 29.63%.

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.