Surge Energy (TSE:SGY) Reaches New 1-Year High - What's Next?

Surge Energy Inc. (TSE:SGY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$7.22 and last traded at C$7.19, with a volume of 419747 shares traded. The stock had previously closed at C$7.07.

Analyst Ratings Changes

SGY has been the subject of a number of research reports. Roth Capital set a C$8.50 price objective on Surge Energy and gave the stock a "buy" rating in a report on Monday, July 14th. Raymond James Financial raised Surge Energy from a "hold" rating to a "moderate buy" rating and increased their price target for the company from C$6.00 to C$8.00 in a research report on Thursday, July 3rd. One research analyst has rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Surge Energy has a consensus rating of "Strong Buy" and a consensus target price of C$10.00.

Surge Energy Price Performance

The stock has a market capitalization of C$723.05 million, a price-to-earnings ratio of -9.02, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a fifty day simple moving average of C$6.01 and a 200 day simple moving average of C$5.64. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66.

Surge Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be paid a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Thursday, July 31st. Surge Energy's dividend payout ratio is -65.21%.

Insider Activity

In other Surge Energy news, Senior Officer Murray Bye acquired 11,845 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of C$4.88 per share, with a total value of C$57,803.60. 1.97% of the stock is owned by corporate insiders.

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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