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

Shares of Surge Energy Inc. (TSE:SGY) have been given a consensus rating of “Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$12.46.

A number of research firms have recently weighed in on SGY. ATB Cormark Capital Markets raised their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Raymond James Financial increased their price target on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. National Bank Financial raised their price target on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Acumen Capital boosted their price target on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd.

Insider Activity at Surge Energy

In other news, insider Jared Ducs sold 27,601 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.57, for a total transaction of C$291,742.57. Following the sale, the insider directly owned 118,847 shares of the company’s stock, valued at C$1,256,212.79. The trade was a 18.85% decrease in their ownership of the stock. Also, insider Margaret Ann Elekes sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total value of C$251,250.00. Following the completion of the transaction, the insider directly owned 129,921 shares in the company, valued at approximately C$1,305,706.05. The trade was a 16.14% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 86,479 shares of company stock worth $900,813. 1.97% of the stock is owned by company insiders.

Surge Energy Stock Performance

TSE:SGY opened at C$9.23 on Friday. Surge Energy has a 52 week low of C$6.05 and a 52 week high of C$10.65. The firm has a 50 day moving average of C$9.76 and a 200 day moving average of C$8.47. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. The stock has a market capitalization of C$924.79 million, a price-to-earnings ratio of 131.86, a PEG ratio of 0.59 and a beta of -0.42.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The firm had revenue of C$75.00 million during the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.

Surge Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.0433 per share. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Surge Energy’s payout ratio is currently 742.85%.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.