Surge Energy (TSE:SGY) Sets New 1-Year Low – What’s Next?

Surge Energy Inc. (TSE:SGY) shares reached a new 52-week low on Tuesday . The company traded as low as C$5.51 and last traded at C$5.53, with a volume of 358188 shares changing hands. The stock had previously closed at C$5.57.

Wall Street Analysts Forecast Growth

SGY has been the subject of a number of recent analyst reports. Raymond James raised shares of Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. National Bankshares boosted their price objective on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Acumen Capital lifted their target price on Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Canaccord Genuity Group reduced their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Finally, Cormark raised shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$11.43.

Surge Energy Price Performance

The stock has a market cap of C$562.80 million, a P/E ratio of 3.36, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The business’s 50-day simple moving average is C$6.05 and its two-hundred day simple moving average is C$6.63.

Surge Energy Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 9.26%. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. Surge Energy’s payout ratio 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.