Analysts Set Surge Energy Inc. (TSE:SGY) Price Target at C$11.43

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) have earned an average rating of "Buy" from the four ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$11.43.

A number of research firms have recently commented on SGY. BMO Capital Markets raised their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Acumen Capital increased their price objective on Surge Energy from C$12.25 to C$12.75 and gave the stock a "strong-buy" rating in a research report on Thursday, August 1st. National Bankshares lifted their price objective on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Cormark upgraded Surge Energy to a "moderate buy" rating in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group cut their price objective on Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd.

Surge Energy Stock Performance

TSE SGY traded down C$0.19 during trading on Friday, hitting C$5.65. 1,186,478 shares of the company's stock traded hands, compared to its average volume of 459,900. The business has a 50 day moving average of C$6.13 and a 200-day moving average of C$6.69. Surge Energy has a 12-month low of C$5.51 and a 12-month high of C$8.91. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The stock has a market capitalization of C$566.81 million, a price-to-earnings ratio of 3.60, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.0433 per share. 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 9.20%. The ex-dividend date is Thursday, October 31st. Surge Energy's dividend payout ratio (DPR) is presently 32.10%.

About Surge Energy

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.