Surge Energy (SGY) Reaches New 12-Month Low at $1.22

Surge Energy Inc (TSE:SGY)’s share price reached a new 52-week low on Monday . The company traded as low as C$1.22 and last traded at C$1.23, with a volume of 757986 shares trading hands. The stock had previously closed at C$1.27.

A number of equities research analysts have commented on SGY shares. TD Securities decreased their price objective on Surge Energy from C$2.00 to C$1.95 and set a “buy” rating for the company in a research report on Tuesday, January 15th. Canaccord Genuity decreased their price objective on Surge Energy from C$3.75 to C$2.75 in a research report on Thursday, January 10th. GMP Securities lowered Surge Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$3.00 to C$1.85 in a research report on Thursday, December 13th. Laurentian cut their price target on Surge Energy from C$2.25 to C$2.00 in a research note on Monday, January 14th. Finally, Cormark cut their price target on Surge Energy from C$4.00 to C$3.25 in a research note on Tuesday, January 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$2.60.

The company has a debt-to-equity ratio of 37.50, a current ratio of 0.92 and a quick ratio of 0.77. The company has a market capitalization of $392.79 million and a price-to-earnings ratio of -65.26.

The company also recently declared a monthly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 15th will be paid a dividend of $0.0083 per share. The ex-dividend date is Wednesday, January 30th. This is an increase from Surge Energy’s previous monthly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a dividend yield of 8.03%. Surge Energy’s dividend payout ratio (DPR) is -508.76%.

In other news, insider James Leigh Stannard purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was bought at an average cost of C$1.62 per share, with a total value of C$40,500.00. Insiders have bought a total of 86,092 shares of company stock valued at $134,883 over the last ninety days.

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Surge Energy Company Profile (TSE:SGY)

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

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