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

Surge Energy Inc. (TSE:SGY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$10.62 and last traded at C$10.02, with a volume of 1887103 shares trading hands. The stock had previously closed at C$9.41.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised shares of Surge Energy from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$9.00 to C$11.00 in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$9.75.

Surge Energy Stock Performance

The business’s fifty day moving average price is C$9.37 and its 200-day moving average price is C$8.09. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58. The stock has a market cap of C$1.00 billion, a PE ratio of 143.14, a P/E/G ratio of 0.59 and a beta of -0.12.

Surge Energy (TSE:SGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The company had revenue of C$75.00 million for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a $0.0433 dividend. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Thursday, April 30th. Surge Energy’s dividend payout ratio is 742.85%.

Insider Buying and Selling at Surge Energy

In other news, insider Margaret Ann Elekes sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total value of C$251,250.00. Following the transaction, the insider owned 129,921 shares in the company, valued at C$1,305,706.05. This represents a 16.14% decrease in their position. Also, Director Allison Michelle Maher sold 8,999 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the completion of the transaction, the director owned 17,612 shares in the company, valued at C$150,758.72. This trade represents a 33.82% decrease in their position. Insiders have sold 59,124 shares of company stock worth $569,205 over the last quarter. Company insiders own 1.97% of the company’s stock.

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.