Surge Energy (TSE:SGY) Insider Margaret Ann Elekes Sells 25,000 Shares

Surge Energy Inc. (TSE:SGY) insider Margaret Ann Elekes sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the transaction, the insider owned 129,921 shares in the company, valued at approximately C$1,305,706.05. The trade was a 16.14% decrease in their position.

Surge Energy Stock Performance

Shares of TSE:SGY opened at C$10.15 on Friday. The company’s 50 day moving average price is C$9.10 and its two-hundred day moving average price is C$7.84. Surge Energy Inc. has a 12-month low of C$5.16 and a 12-month high of C$10.17. The firm has a market cap of C$1.02 billion, a PE ratio of 145.00, a PEG ratio of 0.59 and a beta of -0.12. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75.

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

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.0433 per share. 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 dividend payout ratio is presently 742.85%.

Analysts Set New Price Targets

Separately, Raymond James Financial upgraded shares of Surge Energy from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$9.00 to C$11.00 in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.