Surge Energy (TSE:SGY) Reaches New 52-Week High – Here’s Why

Surge Energy Inc. (TSE:SGY)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as C$12.73 and last traded at C$12.72, with a volume of 283,463 shares. The stock had previously closed at C$12.63.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets boosted their price objective on shares of Surge Energy from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a report on Thursday, September 17th. Five analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$13.65.

Surge Energy Trading Up 0.5%

The business has a 50 day simple moving average of C$11.41 and a two-hundred day simple moving average of C$10.24. The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11. The stock has a market cap of C$1.26 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 0.59 and a beta of -0.26.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share (EPS) for the quarter. The company had revenue of C$191.22 million for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.

Surge Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. Surge Energy’s payout ratio is 118.18%.

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.