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

Surge Energy Inc. (TSE:SGY) has been assigned an average rating of “Buy” from the four research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$11.43.

Several analysts have issued reports on SGY shares. Canaccord Genuity Group dropped their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. Cormark upgraded Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, National Bankshares upped their price objective on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th.

Surge Energy Stock Down 1.9 %

SGY stock opened at C$5.59 on Tuesday. Surge Energy has a twelve month low of C$5.32 and a twelve month high of C$8.16. The company has a market cap of C$560.79 million, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.59 and a beta of 2.54. 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 business has a 50 day moving average price of C$5.99 and a two-hundred day moving average price of C$6.50.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 9.30%. This is an increase from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 31st. Surge Energy’s dividend payout ratio 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.