Surge Energy (TSE:SGY) Hits New 12-Month Low Following Analyst Downgrade

Shares of Surge Energy Inc. (TSE:SGY) hit a new 52-week low during trading on Monday after BMO Capital Markets lowered their price target on the stock from C$11.00 to C$9.00. The stock traded as low as C$5.17 and last traded at C$5.21, with a volume of 117982 shares. The stock had previously closed at C$5.25.

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

Surge Energy Trading Down 0.9 %

The company has a market cap of C$532.70 million, a PE ratio of 3.28, a PEG ratio of 0.59 and a beta of 2.54. The stock has a fifty day moving average of C$5.84 and a 200-day moving average of C$6.38. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50.

Surge Energy Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.0433 per share. This represents a $0.52 annualized dividend and a dividend yield of 9.79%. The ex-dividend date of this dividend was Thursday, October 31st. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s payout ratio is currently 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.