Surge Energy (TSE:SGY) Reaches New 52-Week High – Should You Buy?

Surge Energy Inc. (TSE:SGY) reached a new 52-week high during mid-day trading on Monday. The company traded as high as C$12.73 and last traded at C$12.72, with a volume of 283,463 shares changing hands. The stock had previously closed at C$12.63.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets boosted their price objective on shares of Surge Energy from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Surge Energy has an average rating of “Buy” and an average price target of C$13.65.

Surge Energy Price Performance

The company has a market cap of C$1.25 billion, a P/E ratio of 28.66, a PEG ratio of 0.59 and a beta of -0.26. The company has a fifty day moving average price of C$11.50 and a two-hundred day moving average price of C$10.29. The company has a debt-to-equity ratio of 31.11, a quick ratio of 0.40 and a current ratio of 1.04.

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

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.0433 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.52 annualized dividend and a yield of 4.1%. Surge Energy’s dividend payout ratio is 118.18%.

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.