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

Surge Energy Inc. (TSE:SGY) has earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$12.46.

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

Surge Energy Stock Performance

Shares of SGY stock remained flat at C$10.02 on Tuesday. The stock had a trading volume of 1,887,103 shares, compared to its average volume of 978,146. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58. The stock has a market cap of C$1.00 billion, a price-to-earnings ratio of 143.14, a P/E/G ratio of 0.59 and a beta of -0.12. The company’s fifty day moving average price is C$9.37 and its 200-day moving average price is C$8.09. Surge Energy has a 12 month low of C$5.35 and a 12 month high of C$10.46.

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

Surge Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a $0.0433 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, April 30th. Surge Energy’s dividend payout ratio (DPR) is 742.85%.

Insiders Place Their Bets

In other news, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$10.49, for a total value of C$103,620.22. Following the completion of the transaction, the director directly owned 18,725 shares of the company’s stock, valued at C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock. Also, insider Jared Ducs sold 5,125 shares of Surge Energy stock in a transaction dated Monday, March 30th. The shares were sold at an average price of C$9.39, for a total value of C$48,123.75. Following the completion of the sale, the insider owned 127,356 shares of the company’s stock, valued at C$1,195,872.84. This trade represents a 3.87% decrease in their position. Insiders have sold 69,002 shares of company stock valued at $672,825 in the last three months. Corporate insiders own 1.97% of the company’s stock.

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.