Surge Energy (TSE:SGY) Sets New 12-Month High – Should You Buy?

Surge Energy Inc. (TSE:SGY) reached a new 52-week high on Monday . The stock traded as high as C$11.35 and last traded at C$11.23, with a volume of 93196 shares traded. The stock had previously closed at C$11.04.

Analysts Set New Price Targets

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

Surge Energy Price Performance

The firm has a fifty day moving average of C$9.97 and a 200 day moving average of C$9.41. The company has a market capitalization of C$1.10 billion, a P/E ratio of 25.09, a P/E/G ratio of 0.59 and a beta of -0.42. 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 issued its earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The business had revenue of C$191.22 million during 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. Stockholders of record on Monday, August 17th were paid a $0.0433 dividend. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. Surge Energy’s payout ratio is currently 118.18%.

Insider Activity at Surge Energy

In other news, insider Margaret Ann Elekes sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$10.65, for a total transaction of C$149,100.00. Following the completion of the transaction, the insider directly owned 100,921 shares of the company’s stock, valued at C$1,074,808.65. The trade was a 12.18% decrease in their ownership of the stock. Also, Director Michelle Gramatke sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total transaction of C$105,100.00. Following the transaction, the director owned 26,180 shares in the company, valued at approximately C$275,151.80. This trade represents a 27.64% decrease in their position. Insiders sold 61,479 shares of company stock valued at $649,563 over the last ninety days. Company insiders own 1.97% of the company’s stock.

About Surge Energy

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.