Surge Energy (TSE:SGY) Sets New 1-Year High – Still a Buy?

Surge Energy Inc. (TSE:SGY)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$10.72 and last traded at C$10.59, with a volume of 104275 shares changing hands. The stock had previously closed at C$10.60.

Wall Street Analyst Weigh In

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

Surge Energy Price Performance

The stock has a market cap of C$1.03 billion, a P/E ratio of 23.68, a PEG ratio of 0.59 and a beta of -0.42. The company has a 50 day simple moving average of C$9.74 and a 200 day simple moving average of C$9.13. The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11.

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

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.0%. Surge Energy’s dividend payout ratio (DPR) is 118.18%.

Insider Buying and Selling at Surge Energy

In other Surge Energy news, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total transaction of C$103,620.22. Following the sale, the director directly owned 18,725 shares of the company’s stock, valued at C$196,425.25. The trade was a 34.53% decrease in their position. Also, insider Jared Ducs sold 27,601 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$10.57, for a total transaction of C$291,742.57. Following the transaction, the insider owned 118,847 shares of the company’s stock, valued at approximately C$1,256,212.79. This represents a 18.85% decrease in their ownership of the stock. Insiders have sold a total of 61,479 shares of company stock valued at $649,563 over the last quarter. 1.97% of the stock is currently owned by corporate insiders.

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.