Surge Energy (TSE:SGY) Reaches New 1-Year Low on Analyst Downgrade

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) hit a new 52-week low during mid-day 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 traded. The stock had previously closed at C$5.25.

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

Surge Energy Trading Up 2.1 %

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 stock has a market capitalization of C$537.72 million, a P/E ratio of 3.31, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a 50-day moving average price of C$5.86 and a 200 day moving average price of C$6.39.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.0433 dividend. This is a positive change from Surge Energy's previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.69%. The ex-dividend date of this dividend was Thursday, October 31st. Surge Energy's payout ratio is currently 32.10%.

About Surge Energy

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.