Surge Energy (TSE:SGY) Insider Sells C$48,123.75 in Stock

Surge Energy Inc. (TSE:SGY) insider Jared Ducs sold 5,125 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of C$9.39, for a total transaction of C$48,123.75. Following the sale, the insider owned 127,356 shares in the company, valued at C$1,195,872.84. This represents a 3.87% decrease in their position.

Surge Energy Trading Up 4.3%

Surge Energy stock traded up C$0.38 during midday trading on Monday, reaching C$9.32. The stock had a trading volume of 1,343,428 shares, compared to its average volume of 952,088. Surge Energy Inc. has a twelve month low of C$4.37 and a twelve month high of C$9.48. The company has a debt-to-equity ratio of 33.64, a current ratio of 0.78 and a quick ratio of 0.40. The firm has a market cap of C$921.20 million, a price-to-earnings ratio of 23.30, a PEG ratio of 0.59 and a beta of 0.14. The firm’s fifty day simple moving average is C$7.93 and its two-hundred day simple moving average is C$7.30.

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

Analysts Set New Price Targets

Separately, Raymond James Financial upgraded shares of Surge Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$9.00 to C$11.00 in a report on Monday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$9.75.

Surge Energy Company Profile

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.