Michelle Gramatke Sells 10,000 Shares of Surge Energy (TSE:SGY) Stock

Surge Energy Inc. (TSE:SGY) Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total value of C$105,100.00. Following the sale, the director owned 26,180 shares in the company, valued at C$275,151.80. This represents a 27.64% decrease in their ownership of the stock.

Surge Energy Trading Down 1.9%

TSE SGY opened at C$10.17 on Friday. 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 Inc. has a twelve month low of C$5.93 and a twelve month high of C$10.65. The firm has a market capitalization of C$1.02 billion, a PE ratio of 145.29, a P/E/G ratio of 0.59 and a beta of -0.42. The stock’s 50 day moving average is C$9.62 and its 200 day moving average is C$8.27.

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

Surge Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James Financial boosted 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. Acumen Capital boosted their target price on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. ATB Cormark Capital Markets boosted 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. Canaccord Genuity Group boosted their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, National Bank Financial boosted their target price on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Surge Energy currently has an average rating of “Buy” and a consensus price target of C$12.46.

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.