Surge Energy (TSE:SGY) Hits New 12-Month Low at $5.87

Surge Energy Inc. (TSE:SGY)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$5.87 and last traded at C$5.93, with a volume of 90062 shares changing hands. The stock had previously closed at C$5.97.

Analysts Set New Price Targets

SGY has been the topic of several analyst reports. BMO Capital Markets lifted their target price on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Acumen Capital lifted their target price on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$11.89.

Surge Energy Stock Down 1.7 %

The stock has a fifty day moving average of C$6.77 and a 200 day moving average of C$7.05. The firm has a market capitalization of C$588.88 million, a P/E ratio of 3.69, a price-to-earnings-growth ratio of 0.59 and a beta of 2.57. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). The business had revenue of C$173.17 million for the quarter, compared to the consensus estimate of C$174.40 million. Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. On average, research analysts anticipate that Surge Energy Inc. will post 0.581262 EPS for the current fiscal year.

Surge Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Saturday, August 31st will be issued a dividend of $0.043 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 8.79%. Surge Energy’s dividend payout ratio (DPR) is currently 32.10%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.