Surge Energy (TSE:SGY) PT Set at C$8.50 by Roth Capital

Roth Capital set a C$8.50 target price on Surge Energy (TSE:SGY - Free Report) in a report published on Monday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Separately, Raymond James Financial raised Surge Energy from a "hold" rating to a "moderate buy" rating and lifted their target price for the stock from C$6.00 to C$8.00 in a research report on Thursday, July 3rd. One analyst has rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Surge Energy presently has an average rating of "Strong Buy" and an average target price of C$10.00.

Surge Energy Stock Up 0.3%

TSE SGY traded up C$0.02 during trading hours on Monday, hitting C$6.67. The company had a trading volume of 730,335 shares, compared to its average volume of 560,881. Surge Energy has a fifty-two week low of C$4.37 and a fifty-two week high of C$7.29. The company has a market capitalization of C$670.76 million, a price-to-earnings ratio of -8.36, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The firm's 50 day moving average is C$5.74 and its 200 day moving average is C$5.59.

Surge Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be paid a $0.0433 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.52 dividend on an annualized basis and a yield of 7.79%. Surge Energy's dividend payout ratio (DPR) is -65.21%.

Insider Buying and Selling

In related news, Senior Officer Murray Bye bought 11,845 shares of the firm's stock in a transaction 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.

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.