Analysts Set Surge Energy Inc. (TSE:SGY) Price Target at C$12.46

Shares of Surge Energy Inc. (TSE:SGY – Get Free Report) have been given a consensus recommendation of “Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$12.46.

Several research analysts recently issued reports on the company. National Bank Financial lifted their target price on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group boosted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. ATB Cormark Capital Markets boosted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Raymond James Financial boosted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Acumen Capital boosted their price objective on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd.

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Insiders Place Their Bets

In other Surge Energy news, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction 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 transaction, the director owned 18,725 shares of the company’s stock, valued at approximately C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock. Also, insider Murray Bye sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total value of C$192,800.00. Following the completion of the transaction, the insider directly owned 29,506 shares in the company, valued at approximately C$284,437.84. This represents a 40.40% decrease in their position. Insiders sold a total of 110,603 shares of company stock worth $1,113,668 in the last ninety days. Company insiders own 1.97% of the company’s stock.

Surge Energy Stock Up 3.9%

Shares of TSE:SGY opened at C$10.46 on Tuesday. The stock has a market cap of C$1.05 billion, a price-to-earnings ratio of 149.43, a PEG ratio of 0.59 and a beta of -0.42. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. Surge Energy has a 12-month low of C$5.58 and a 12-month high of C$10.65. The business’s 50 day moving average is C$9.54 and its 200 day moving average is C$8.21.

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

Surge Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.0%. Surge Energy’s payout ratio is currently 742.85%.

About Surge Energy

(Get Free Report)

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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