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

Key Points

• Surge Energy Inc. has received a consensus recommendation of "Strong Buy" from brokerages, with an average 1-year price target of C$10.00.
• The stock price increased by 3.4% to C$7.65, with a market capitalization of C$769.31 million and a notable P/E ratio of -9.59.
• The company recently announced a monthly dividend of $0.0433 per share, translating to an annual yield of 6.79%.

Surge Energy Inc. (TSE:SGY - Get Free Report) has received a consensus rating of "Strong Buy" from the three analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$10.00.

A number of research firms have issued reports on SGY. Raymond James Financial lifted their price target on Surge Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a research note on Tuesday. ATB Capital boosted their target price on Surge Energy from C$7.50 to C$8.25 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Roth Capital set a C$8.50 target price on Surge Energy and gave the stock a "buy" rating in a research note on Monday, July 14th.

Surge Energy Stock Up 3.4%

Surge Energy stock traded up C$0.25 during midday trading on Tuesday, reaching C$7.65. The stock had a trading volume of 935,235 shares, compared to its average volume of 567,691. Surge Energy has a 12 month low of C$4.37 and a 12 month high of C$7.84. The company has a market capitalization of C$769.31 million, a P/E ratio of -9.59, a PEG ratio of 0.59 and a beta of 2.54. The company has a fifty day moving average price of C$6.16 and a two-hundred day moving average price of C$5.67. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.52 annualized dividend and a yield of 6.79%. Surge Energy's dividend payout ratio (DPR) is presently -65.21%.

Insider Transactions at Surge Energy

In related news, Senior Officer Murray Bye bought 11,845 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average cost of C$4.88 per share, for a total transaction of C$57,803.60. Company insiders own 1.97% of the company's stock.

Surge Energy Company Profile

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.

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