Insider Buying: Surge Energy Inc. (TSE:SGY) Senior Officer Buys 11,845 Shares of Stock

Surge Energy Inc. (TSE:SGY) Senior Officer Murray Bye acquired 11,845 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of C$4.88 per share, for a total transaction of C$57,803.60.

Surge Energy Stock Up 2.9 %

SGY opened at C$4.98 on Friday. The company has a market cap of C$500.80 million, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. Surge Energy Inc. has a twelve month low of C$4.37 and a twelve month high of C$7.39. The company has a 50-day moving average price of C$5.25 and a 200 day moving average price of C$5.53. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be issued a $0.0433 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.52 dividend on an annualized basis and a yield of 10.43%. Surge Energy’s payout ratio is currently -65.21%.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of Surge Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$8.50 to C$6.00 in a research report on Wednesday, April 9th.

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.