Surge Energy (TSE:SGY) Hits New 1-Year Low Following Analyst Downgrade

Surge Energy Inc. (TSE:SGY)’s share price reached a new 52-week low 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 traded. The stock had previously closed at C$5.25.

Several other equities analysts have also recently issued reports on SGY. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Raymond James upgraded Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. 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. Finally, National Bankshares lifted their price target on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$11.00.

Surge Energy Trading Down 0.9 %

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

Surge Energy Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 9.79%. Surge Energy’s dividend payout ratio (DPR) 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.