Surge Energy (TSE:SGY) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Surge Energy Inc. (TSE:SGY) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$9.57 and traded as high as C$10.33. Surge Energy shares last traded at C$10.17, with a volume of 430,972 shares trading hands.

Wall Street Analysts Forecast Growth

SGY has been the subject of a number of analyst reports. Raymond James Financial lifted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group lifted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Acumen Capital lifted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. ATB Cormark Capital Markets lifted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, National Bank Financial lifted their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Surge Energy has a consensus rating of “Buy” and an average price target of C$12.46.

Surge Energy Price Performance

The stock’s 50 day moving average price is C$9.57 and its two-hundred day moving average price is C$8.24. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40. The firm has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 145.29, a PEG ratio of 0.59 and a beta of -0.42.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.The firm had revenue of C$75.00 million during the quarter.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a $0.0433 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Thursday, April 30th. Surge Energy’s payout ratio is presently 742.85%.

Insider Activity

In other news, insider Margaret Ann Elekes sold 14,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.65, for a total value of C$149,100.00. Following the completion of the sale, the insider directly owned 100,921 shares in the company, valued at approximately C$1,074,808.65. The trade was a 12.18% decrease in their ownership of the stock. Also, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$10.49, for a total transaction of C$103,620.22. Following the completion of the sale, the director owned 18,725 shares of the company’s stock, valued at C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock. Insiders have sold a total of 101,604 shares of company stock valued at $1,036,637 over the last three months. Corporate insiders own 1.97% of the company’s stock.

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.