Surge Energy (TSE:SGY) Hits New 52-Week Low – Here’s What Happened

Surge Energy Inc. (TSE:SGY) hit a new 52-week low on Tuesday . The company traded as low as C$5.27 and last traded at C$5.27, with a volume of 127173 shares. The stock had previously closed at C$5.34.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SGY. Raymond James raised shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. National Bankshares lifted their price target on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Canaccord Genuity Group decreased their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Finally, Cormark raised shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$11.43.

Surge Energy Trading Down 1.9 %

The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The firm’s 50-day moving average price is C$5.92 and its 200 day moving average price is C$6.44. The company has a market capitalization of C$525.68 million, a P/E ratio of 3.30, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.0433 per share. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.92%. Surge Energy’s payout ratio is 32.10%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.