Surge Energy (TSE:SGY) Sets New 12-Month Low at $0.94

Shares of Surge Energy Inc (TSE:SGY) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$0.94 and last traded at C$0.95, with a volume of 237306 shares traded. The stock had previously closed at C$0.95.

SGY has been the subject of several research reports. CIBC lowered their price objective on shares of Surge Energy from C$1.75 to C$1.50 in a research report on Tuesday, October 15th. Raymond James reissued an “outperform” rating and set a C$1.50 price objective on shares of Surge Energy in a research report on Wednesday, November 6th. Finally, TD Securities increased their price objective on shares of Surge Energy from C$1.65 to C$1.75 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$2.00.

The firm has a market cap of $298.35 million and a P/E ratio of -3.01. The business’s 50-day moving average is C$1.07 and its two-hundred day moving average is C$1.19. The company has a debt-to-equity ratio of 52.09, a current ratio of 0.81 and a quick ratio of 0.62.

Surge Energy (TSE:SGY) last released its earnings results on Monday, November 4th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$97.03 million for the quarter. Equities research analysts predict that Surge Energy Inc will post 0.01 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a $0.0083 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 10.48%. The ex-dividend date of this dividend is Tuesday, November 26th. Surge Energy’s dividend payout ratio (DPR) is currently -31.64%.

In other Surge Energy news, Director James Murray Pasieka bought 350,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of C$1.25 per share, with a total value of C$435,750.00. Following the completion of the transaction, the director now owns 910,492 shares in the company, valued at C$1,133,562.54.

About Surge Energy (TSE:SGY)

Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.

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