Surge Energy (TSE:SGY) Hits New 52-Week Low – Here’s What Happened

Shares of Surge Energy Inc. (TSE:SGY) hit a new 52-week low during trading on Monday . The stock traded as low as C$0.00 and last traded at C$5.30, with a volume of 259972 shares. The stock had previously closed at C$5.37.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut their target price on Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th.

Surge Energy Trading Down 6.3 %

The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market cap of C$505.83 million, a PE ratio of -6.31, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company’s 50 day moving average price is C$5.71 and its 200 day moving average price is C$5.90.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.0433 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 10.33%. Surge Energy’s dividend payout ratio (DPR) is -65.21%.

Insider Buying and Selling at Surge Energy

In other news, Director James Murray Pasieka sold 11,213 shares of Surge Energy stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total transaction of C$58,643.99. 1.97% of the stock is owned by corporate insiders.

About Surge Energy

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.