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

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) have been assigned a consensus recommendation of "Buy" from the four analysts that are currently covering the firm, MarketBeat reports. Three equities research 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 covered the stock in the last year is C$11.00.

Several equities research analysts recently weighed in on SGY shares. Canaccord Genuity Group reduced their target price on Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. BMO Capital Markets reduced their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. National Bankshares upped their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Raymond James upgraded shares of Surge Energy to a "moderate buy" rating in a report on Thursday, October 17th. Finally, Cormark raised shares of Surge Energy to a "moderate buy" rating in a research report on Monday, September 23rd.

Surge Energy Stock Up 1.1 %

TSE SGY traded up C$0.06 during trading on Friday, hitting C$5.54. 700,714 shares of the company traded hands, compared to its average volume of 483,494. Surge Energy has a 12 month low of C$4.94 and a 12 month high of C$8.16. The business has a fifty day simple moving average of C$5.67 and a 200 day simple moving average of C$6.28. The company has a market capitalization of C$555.77 million, a P/E ratio of 3.42, a PEG ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47.

Surge Energy Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.0433 dividend. The ex-dividend date was Thursday, October 31st. This is a positive change from Surge Energy's previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.38%. Surge Energy's dividend payout ratio (DPR) is 32.10%.

Insider Buying and Selling at Surge Energy

In other news, Director James Murray Pasieka sold 11,213 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total value of C$58,643.99. Insiders own 1.97% of the company's stock.

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.