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

Surge Energy Inc. (TSE:SGY) shares hit a new 52-week high during trading on Monday. The company traded as high as C$13.39 and last traded at C$13.35, with a volume of 410,388 shares changing hands. The stock had previously closed at C$13.24.

Analysts Set New Price Targets

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

Surge Energy Stock Up 1.0%

The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11. The firm’s 50 day simple moving average is C$11.73 and its two-hundred day simple moving average is C$9.67. The firm has a market cap of C$1.30 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 0.59 and a beta of -0.26.

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

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were given a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, July 31st. Surge Energy’s dividend payout ratio is presently 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.