Surge Energy (SGY) Sets New 1-Year Low at $1.22

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Shares of Surge Energy Inc (TSE:SGY) hit a new 52-week low on Monday . The stock traded as low as C$1.22 and last traded at C$1.23, with a volume of 757986 shares traded. The stock had previously closed at C$1.27.

Several analysts have recently weighed in on the company. Royal Bank of Canada decreased their price objective on Surge Energy from C$3.00 to C$2.50 in a report on Tuesday, January 8th. Cormark decreased their price objective on Surge Energy from C$4.00 to C$3.25 in a report on Tuesday, January 15th. BMO Capital Markets decreased their price objective on Surge Energy from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Laurentian decreased their price objective on Surge Energy from C$2.25 to C$2.00 in a report on Monday, January 14th. Finally, CIBC decreased their price objective on Surge Energy from C$3.00 to C$2.50 in a report on Thursday, November 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$2.60.

The company has a quick ratio of 0.77, a current ratio of 0.92 and a debt-to-equity ratio of 37.50. The company has a market cap of $392.79 million and a P/E ratio of -65.26.

The business also recently declared a monthly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 15th will be paid a $0.0083 dividend. This is a positive change from Surge Energy’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $0.10 annualized dividend and a yield of 8.03%. Surge Energy’s payout ratio is currently -508.76%.

In related news, insider James Leigh Stannard purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average price of C$1.62 per share, with a total value of C$40,500.00. In the last ninety days, insiders purchased 86,092 shares of company stock worth $134,883.

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Surge Energy Company Profile (TSE:SGY)

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

See Also: Consumer Price Index (CPI)

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