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

Surge Energy Inc. (TSE:SGY) shares 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 traded.

Wall Street Analysts Forecast Growth

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

Surge Energy Stock Performance

The firm’s 50-day moving average price is C$9.57 and its two-hundred day moving average price is C$8.24. 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 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 quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) EPS for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%. The company had revenue of C$75.00 million for the quarter.

Surge Energy Announces Dividend

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

Insider Activity at Surge Energy

In related news, insider Jared Ducs sold 27,601 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$10.57, for a total transaction of C$291,742.57. Following the transaction, the insider directly owned 118,847 shares of the company’s stock, valued at approximately C$1,256,212.79. The trade was a 18.85% decrease in their ownership of the stock. Also, insider Murray Bye sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the transaction, the insider directly owned 29,506 shares in the company, valued at C$284,437.84. The trade was a 40.40% decrease in their ownership of the stock. Over the last ninety days, insiders sold 101,604 shares of company stock valued at $1,036,637. 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.