Insider Selling: Surge Energy (TSE:SGY) Director Sells C$77,031.44 in Stock

Surge Energy Inc. (TSE:SGY) Director Allison Michelle Maher sold 8,999 shares of Surge Energy stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total value of C$77,031.44. Following the completion of the sale, the director owned 17,612 shares of the company’s stock, valued at approximately C$150,758.72. The trade was a 33.82% decrease in their ownership of the stock.

Surge Energy Trading Up 2.6%

Shares of Surge Energy stock traded up C$0.22 on Thursday, reaching C$8.67. 1,162,498 shares of the company’s stock were exchanged, compared to its average volume of 942,226. The company has a market capitalization of C$857.88 million, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14. Surge Energy Inc. has a 52 week low of C$4.37 and a 52 week high of C$8.70. The company has a debt-to-equity ratio of 33.64, a quick ratio of 0.40 and a current ratio of 0.78. The firm’s 50-day moving average is C$7.44 and its two-hundred day moving average is C$7.15.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, March 4th. The company reported C$0.55 earnings per share for the quarter. The company had revenue of C$111.40 million during the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SGY shares. Raymond James Financial downgraded Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Cormark Capital Markets upped their target price on Surge Energy from C$8.25 to C$9.75 in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.08.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.