Surge Energy (TSE:SGY) Hits New 12-Month High - Should You Buy?

Key Points

• Surge Energy shares reached a new 52-week high of C$12.42 and last traded at C$12.24, up 1.6% from the prior close.
• Analysts remain bullish: five firms rate the stock Buy or Outperform, with an average price target of C$13.25, above its recent trading level.
• The company reported quarterly revenue of C$191.22 million and EPS of C$0.68, while paying a monthly dividend of $0.0433 per share for an indicated yield of about 4.2%. Its payout ratio, however, is high at 118.18%.

Surge Energy Inc. (TSE:SGY - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$12.42 and last traded at C$12.24, with a volume of 34177 shares changing hands. The stock had previously closed at C$12.16.

Wall Street Analyst Weigh In

Several research firms recently commented on SGY. Acumen Capital upped their price target on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. National Bank Financial raised their price objective on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Raymond James Financial lifted their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group upped their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets increased their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$13.25.

Surge Energy Trading Up 1.6%

The company has a quick ratio of 0.40, a current ratio of 1.04 and a debt-to-equity ratio of 31.11. The business has a fifty day simple moving average of C$10.42 and a 200 day simple moving average of C$9.67. The company has a market cap of C$1.22 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 0.59 and a beta of -0.43.

Surge Energy (TSE:SGY - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported C$0.68 EPS for the quarter. Surge Energy had a net margin of 8.01% and a return on equity of 6.18%. The company had revenue of C$191.22 million for the quarter.

Surge Energy Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a dividend of $0.0433 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.2%. Surge Energy's payout ratio is currently 118.18%.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.

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