Surge Energy (SGY) Sets New 52-Week Low at $1.83

Surge Energy Inc (TSE:SGY) shares reached a new 52-week low during trading on Thursday . The stock traded as low as C$1.83 and last traded at C$1.84, with a volume of 911444 shares trading hands. The stock had previously closed at C$1.92.

Several research firms have recently commented on SGY. TD Securities lowered their price objective on shares of Surge Energy from C$3.50 to C$3.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Raymond James raised their price objective on shares of Surge Energy from C$3.25 to C$3.50 and gave the company an “outperform” rating in a research note on Friday, September 7th. BMO Capital Markets lowered their price objective on shares of Surge Energy from C$3.50 to C$3.00 and set an “outperform” rating for the company in a research note on Tuesday, October 30th. National Bank Financial raised shares of Surge Energy from an “underperform” rating to an “outperform” rating and set a C$4.00 price objective for the company in a research note on Friday, October 26th. Finally, CIBC raised their price objective on shares of Surge Energy from C$2.75 to C$3.00 in a research note on Friday, October 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$3.50.

Surge Energy (TSE:SGY) last posted its quarterly earnings data on Wednesday, August 8th. The company reported C$0.01 EPS for the quarter. The business had revenue of C$87.09 million during the quarter.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 15th will be issued a $0.0083 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.10 annualized dividend and a yield of 5.47%.

In other news, Director Paul Colborne bought 10,000 shares of Surge Energy stock in a transaction that occurred on Tuesday, September 25th. The shares were purchased at an average price of C$2.69 per share, with a total value of C$26,900.00. Also, Director Keith Elliott Macdonald sold 17,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of C$2.12, for a total transaction of C$37,746.60. In the last ninety days, insiders purchased 110,920 shares of company stock worth $267,033.

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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.

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