Surge Energy (TSE:SGY) Hits New 52-Week High – Time to Buy?

Surge Energy Inc. (TSE:SGY)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$11.22 and last traded at C$11.13, with a volume of 817879 shares trading hands. The stock had previously closed at C$10.60.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SGY. National Bank Financial increased their price target 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. Raymond James Financial boosted 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. ATB Cormark Capital Markets upped their price objective on shares of 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. 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 note on Tuesday, June 2nd. Finally, Acumen Capital lifted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Surge Energy presently has an average rating of “Buy” and an average price target of C$13.25.

Surge Energy Trading Up 0.5%

The firm has a market capitalization of C$1.10 billion, a PE ratio of 25.11, a P/E/G ratio of 0.59 and a beta of -0.42. The business has a 50 day moving average price of C$9.80 and a 200-day moving average price of C$9.23. 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 posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.68 EPS for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.The business had revenue of C$191.22 million during the quarter.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a $0.0433 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.7%. Surge Energy’s dividend payout ratio (DPR) is 118.18%.

Insider Activity at Surge Energy

In related news, insider Margaret Ann Elekes sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$10.65, for a total value 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. This trade represents a 12.18% decrease in their position. Also, Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$10.51, for a total value of C$105,100.00. Following the transaction, the director directly owned 26,180 shares of the company’s stock, valued at approximately C$275,151.80. This represents a 27.64% 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 90 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.