Surge Energy (TSE:SGY) Reaches New 12-Month High – What’s Next?

Surge Energy Inc. (TSE:SGY) reached a new 52-week high on Tuesday . The company traded as high as C$11.47 and last traded at C$11.46, with a volume of 91273 shares trading hands. The stock had previously closed at C$11.16.

Analyst Ratings Changes

A number of brokerages have recently commented on SGY. Canaccord Genuity Group upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. ATB Cormark Capital Markets lifted their price target on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. National Bank Financial boosted their price target on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Raymond James Financial upped 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 raised their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$13.25.

Surge Energy Price Performance

The company has a quick ratio of 0.40, a current ratio of 1.04 and a debt-to-equity ratio of 31.11. The firm has a market capitalization of C$1.18 billion, a PE ratio of 27.11, a PEG ratio of 0.59 and a beta of -0.43. The stock has a 50-day moving average price of C$10.30 and a 200 day moving average price of C$9.61.

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

Surge Energy Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were paid a $0.0433 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Surge Energy’s payout ratio is currently 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.