Surge Energy Inc. (TSE:SGY) Receives C$12.46 Average PT from Brokerages

Surge Energy Inc. (TSE:SGY) has received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$12.46.

Several research firms have recently weighed in on SGY. ATB Cormark Capital Markets raised their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. National Bank Financial upped their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Raymond James Financial raised their price target on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Acumen Capital lifted their price target on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd.

Insider Transactions at Surge Energy

In related news, insider Margaret Ann Elekes sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$10.65, for a total value of C$149,100.00. Following the completion of the sale, the insider owned 100,921 shares in the company, valued at C$1,074,808.65. The trade was a 12.18% decrease in their position. Also, Director Allison Michelle Maher sold 9,878 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 18,725 shares of the company’s stock, valued at approximately C$196,425.25. This represents a 34.53% decrease in their position. Over the last 90 days, insiders have sold 86,479 shares of company stock worth $900,813. 1.97% of the stock is owned by corporate insiders.

Surge Energy Trading Up 0.7%

Shares of SGY opened at C$9.12 on Friday. The firm’s 50 day simple moving average is C$9.77 and its 200 day simple moving average is C$8.49. The company has a market capitalization of C$913.77 million, a P/E ratio of 130.29, a P/E/G ratio of 0.59 and a beta of -0.39. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40. Surge Energy has a 1-year low of C$6.05 and a 1-year high of C$10.65.

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

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.0433 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Surge Energy’s dividend payout ratio (DPR) is currently 742.85%.

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.