Surge Energy (TSE:SGY) Issues Quarterly Earnings Results

Surge Energy (TSE:SGY) issued its quarterly earnings data on Wednesday. The company reported C$0.68 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$191.22 million for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.

Surge Energy Price Performance

Shares of SGY stock opened at C$9.89 on Thursday. The firm’s 50 day moving average price is C$9.66 and its two-hundred day moving average price is C$8.86. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58. Surge Energy has a 52-week low of C$6.42 and a 52-week high of C$10.65. The stock has a market cap of C$990.92 million, a PE ratio of 141.29, a PEG ratio of 0.59 and a beta of -0.39.

Surge Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a $0.0433 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.3%. Surge Energy’s dividend payout ratio (DPR) is presently 742.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. ATB Cormark Capital Markets increased their price target on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. National Bank Financial lifted their price objective on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Acumen Capital boosted their price objective on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Raymond James Financial increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Canaccord Genuity Group raised their target price on 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. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Surge Energy currently has a consensus rating of “Buy” and an average price target of C$13.25.

Insider Buying and Selling

In other Surge Energy news, Director Michelle Gramatke sold 10,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$10.51, for a total value of C$105,100.00. Following the transaction, the director owned 26,180 shares of the company’s stock, valued at approximately C$275,151.80. This represents a 27.64% decrease in their ownership of the stock. Also, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$10.49, for a total value of C$103,620.22. Following the transaction, 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. In the last quarter, insiders sold 86,479 shares of company stock worth $900,813. Company 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.