Surge Energy (TSE:SGY) Hits New 52-Week Low – Should You Sell?

Surge Energy Inc. (TSE:SGY) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$5.51 and last traded at C$5.53, with a volume of 358188 shares traded. The stock had previously closed at C$5.57.

Analyst Upgrades and Downgrades

SGY has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Acumen Capital boosted their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. National Bankshares raised their target price on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Finally, Canaccord Genuity Group cut their price target on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$11.43.

Surge Energy Trading Down 1.8 %

The firm has a market cap of C$548.75 million, a PE ratio of 3.44, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The company has a 50-day simple moving average of C$6.09 and a 200 day simple moving average of C$6.66.

Surge Energy Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.0433 per share. This is an increase from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.50%. The ex-dividend date of this dividend is Thursday, October 31st. Surge Energy’s dividend payout ratio is presently 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.