Surge Energy (TSE:SGY) Hits New 12-Month High - Still a Buy?

Key Points

• Surge Energy shares reached a new 52-week high of C$11.35 and last traded at C$11.23, up from the prior close of C$11.04.
• Analysts remain bullish, with five Buy or Outperform ratings and a consensus price target of C$13.25, after several firms raised their targets to between C$13.00 and C$13.75.
• The company reported quarterly earnings of C$0.68 per share on C$191.22 million in revenue and pays a monthly dividend yielding approximately 4.7%; however, insiders have sold 61,479 shares over the past 90 days.

Surge Energy Inc. (TSE:SGY - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$11.35 and last traded at C$11.23, with a volume of 93196 shares. The stock had previously closed at C$11.04.

Wall Street Analyst Weigh In

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

Surge Energy Stock Performance

The firm has a market capitalization of C$1.10 billion, a PE ratio of 25.09, a PEG ratio of 0.59 and a beta of -0.42. 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 company has a 50-day moving average of C$9.97 and a 200 day moving average of C$9.41.

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

Surge Energy Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a dividend of $0.0433 per share. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.7%. Surge Energy's dividend payout ratio (DPR) is presently 118.18%.

Insider Transactions at Surge Energy

In other Surge Energy news, Director Allison Michelle Maher sold 9,878 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total value of C$103,620.22. Following the completion of the sale, the director directly owned 18,725 shares of the company's stock, valued at C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock. Also, insider Margaret Ann Elekes sold 14,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of C$10.65, for a total value of C$149,100.00. Following the sale, the insider owned 100,921 shares of the company's stock, valued at C$1,074,808.65. This represents a 12.18% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 61,479 shares of company stock worth $649,563. 1.97% of the stock is owned by corporate insiders.

About Surge Energy

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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