Surge Energy Inc. (TSE:SGY) Receives Consensus Rating of "Buy" from Analysts

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) have received an average rating of "Buy" from the four brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$11.43.

A number of equities research analysts recently weighed in on the company. National Bankshares lifted their target price on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Raymond James upgraded shares of Surge Energy to a "moderate buy" rating in a research note on Thursday, October 17th. Cormark upgraded shares of Surge Energy to a "moderate buy" rating in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group cut their target price on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd.

Surge Energy Price Performance

TSE SGY traded up C$0.04 on Tuesday, reaching C$5.63. 318,783 shares of the stock traded hands, compared to its average volume of 474,744. The firm's fifty day simple moving average is C$5.98 and its 200 day simple moving average is C$6.49. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The company has a market cap of C$564.80 million, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy has a 12 month low of C$5.32 and a 12 month high of C$8.16.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.0433 dividend. This is a positive change from Surge Energy's previous monthly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 9.23%. Surge Energy's payout ratio is 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.