Surge Energy (TSE:SGY) Reaches New 52-Week High – Here’s Why

Surge Energy Inc. (TSE:SGY)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$10.29 and last traded at C$10.24, with a volume of 89678 shares traded. The stock had previously closed at C$10.15.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial raised shares of Surge Energy from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$9.00 to C$11.00 in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$9.75.

Surge Energy Trading Down 1.8%

The business’s 50 day moving average is C$9.21 and its two-hundred day moving average is C$7.93. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. The firm has a market capitalization of C$1.01 billion, a P/E ratio of 144.57, a PEG ratio of 0.59 and a beta of -0.12.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%. The company had revenue of C$75.00 million for the quarter.

Surge Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a dividend of $0.0433 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Thursday, April 30th. Surge Energy’s payout ratio is currently 742.85%.

Insider Activity at Surge Energy

In related news, insider Margaret Ann Elekes sold 25,000 shares of Surge Energy stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the sale, the insider directly owned 129,921 shares in the company, valued at C$1,305,706.05. The trade was a 16.14% decrease in their ownership of the stock. Also, insider Jared Ducs sold 5,125 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of C$9.39, for a total transaction of C$48,123.75. Following the completion of the sale, the insider owned 127,356 shares in the company, valued at approximately C$1,195,872.84. This trade represents a 3.87% decrease in their ownership of the stock. Insiders have sold 59,124 shares of company stock valued at $569,205 in the last ninety days. Company insiders own 1.97% of the company’s stock.

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.