Surge Energy (TSE:SGY) Reaches New 1-Year High – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s share price reached a new 52-week high on Monday . The company traded as high as C$12.42 and last traded at C$12.24, with a volume of 34177 shares trading hands. The stock had previously closed at C$12.16.

Analysts Set New Price Targets

SGY has been the subject of several research analyst reports. Raymond James Financial increased 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. National Bank Financial boosted their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Acumen Capital upped their price target 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. Canaccord Genuity Group increased their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets raised their price objective on shares of 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$13.25.

Surge Energy Stock Up 3.0%

The stock has a market capitalization of C$1.24 billion, a PE ratio of 28.45, a P/E/G ratio of 0.59 and a beta of -0.43. The firm has a 50 day moving average of C$10.56 and a two-hundred day moving average of C$9.73. 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 quarterly earnings data 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 during the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.

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 dividend of $0.0433 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend 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.