Surge Energy (SGY) Hits New 12-Month Low at $1.71

Surge Energy Inc (TSE:SGY) hit a new 52-week low during trading on Thursday . The stock traded as low as C$1.71 and last traded at C$1.73, with a volume of 901471 shares traded. The stock had previously closed at C$1.80.

Several brokerages have commented on SGY. National Bank Financial decreased their target price on shares of Surge Energy from C$3.25 to C$3.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. Eight Capital lowered shares of Surge Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from C$2.90 to C$2.60 in a research report on Friday, October 27th. Scotiabank boosted their target price on shares of Surge Energy from C$2.50 to C$2.70 and gave the stock a “sector perform” rating in a research report on Thursday, November 16th. Finally, CIBC boosted their target price on shares of Surge Energy from C$2.25 to C$2.50 in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$2.97.

The stock has a market cap of $400.74, a P/E ratio of -43.50 and a beta of 0.50.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Tuesday, November 7th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.01 by C($0.05). Surge Energy had a negative return on equity of 4.16% and a negative net margin of 18.21%.

The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.0079 per share. This represents a $0.09 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Tuesday, January 30th. Surge Energy’s dividend payout ratio (DPR) is presently -214.58%.

In other news, insider Daniel Curt Brown sold 13,000 shares of Surge Energy stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of C$2.04, for a total transaction of C$26,520.00. Insiders have bought a total of 28,876 shares of company stock valued at $60,297 in the last ninety days.

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Surge Energy Company Profile

Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.

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