Insider Buying: Surge Energy Inc (SGY) Director Acquires 5,000 Shares of Stock

Surge Energy Inc (TSE:SGY) Director Paul Colborne purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were purchased at an average price of C$2.09 per share, for a total transaction of C$10,450.00.

Paul Colborne also recently made the following trade(s):

  • On Thursday, January 18th, Paul Colborne acquired 5,000 shares of Surge Energy stock. The stock was bought at an average price of C$2.14 per share, for a total transaction of C$10,700.00.
  • On Monday, December 18th, Paul Colborne acquired 2,086 shares of Surge Energy stock. The stock was bought at an average price of C$1.92 per share, for a total transaction of C$4,005.12.
  • On Wednesday, November 15th, Paul Colborne acquired 1,790 shares of Surge Energy stock. The stock was bought at an average price of C$2.23 per share, for a total transaction of C$3,991.70.

Surge Energy Inc (TSE SGY) remained flat at $C$2.09 during mid-day trading on Friday. 240,539 shares of the company traded hands, compared to its average volume of 1,107,452. Surge Energy Inc has a 12 month low of C$1.90 and a 12 month high of C$3.27. The company has a market capitalization of $489.13, a P/E ratio of -52.25 and a beta of 0.26.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Tuesday, November 7th. The company reported C($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.01 by C($0.05). Surge Energy had a negative return on equity of 4.16% and a negative net margin of 18.21%.

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.0079 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.09 dividend on an annualized basis and a yield of 4.54%. Surge Energy’s dividend payout ratio (DPR) is presently -214.58%.

Several research firms have recently weighed in on SGY. National Bank Financial lowered their price objective on Surge Energy from C$3.25 to C$3.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Scotiabank upped their price objective on Surge Energy from C$2.50 to C$2.70 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. CIBC upped their price objective on Surge Energy from C$2.25 to C$2.50 in a research note on Thursday, November 16th. Finally, Eight Capital lowered Surge Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from C$2.90 to C$2.60 in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$2.97.

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About Surge Energy

Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.

Insider Buying and Selling by Quarter for Surge Energy (TSE:SGY)

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