Surge Energy (TSE:SGY) Hits New 1-Year High – Time to Buy?

Surge Energy Inc. (TSE:SGY)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$10.29 and last traded at C$10.24, with a volume of 89678 shares changing hands. The stock had previously closed at C$10.15.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised Surge Energy from a “hold” rating to a “moderate buy” rating and increased their target price 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, Surge Energy currently has an average rating of “Buy” and a consensus target price of C$9.75.

Surge Energy Stock Up 0.8%

The business has a fifty day simple moving average of C$9.13 and a 200 day simple moving average of C$7.88. The firm has a market cap of C$1.02 billion, a price-to-earnings ratio of 146.14, a PEG ratio of 0.59 and a beta of -0.12. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40.

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

Surge Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a $0.0433 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, April 30th. Surge Energy’s dividend payout ratio (DPR) is currently 742.85%.

Insider Buying and Selling

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