Surge Energy (TSE:SGY) Given New C$11.25 Price Target at National Bankshares

Surge Energy (TSE:SGY) had its target price upped by National Bankshares from C$11.00 to C$11.25 in a research report report published on Friday morning, BayStreet.CA reports.

A number of other analysts also recently weighed in on SGY. BMO Capital Markets upped their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Acumen Capital boosted their price target on Surge Energy from C$12.25 to C$12.75 and gave the stock a strong-buy rating in a research report on Thursday, August 1st. Finally, Cormark raised Surge Energy to a moderate buy rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Surge Energy presently has a consensus rating of Buy and an average price target of C$11.93.

Surge Energy Stock Performance

Shares of SGY stock opened at C$6.03 on Friday. Surge Energy has a 52 week low of C$5.51 and a 52 week high of C$9.77. 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 stock has a fifty day moving average of C$6.43 and a 200 day moving average of C$6.97. The firm has a market capitalization of C$604.93 million, a price-to-earnings ratio of 3.72, a PEG ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($0.02). The firm had revenue of C$173.17 million for the quarter, compared to the consensus estimate of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. As a group, research analysts expect that Surge Energy will post 0.838256 earnings per share for the current year.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.56%. The ex-dividend date of this dividend is Friday, September 27th. Surge Energy’s payout ratio is 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.