Surge Energy (TSE:SGY) Insider Sells C$291,742.57 in Stock

Surge Energy Inc. (TSE:SGY) insider Jared Ducs sold 27,601 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.57, for a total value of C$291,742.57. Following the sale, the insider owned 118,847 shares in the company, valued at C$1,256,212.79. The trade was a 18.85% decrease in their position.

Jared Ducs also recently made the following trade(s):

• On Monday, March 30th, Jared Ducs sold 5,125 shares of Surge Energy stock. The shares were sold at an average price of C$9.39, for a total value of C$48,123.75.

Surge Energy Stock Performance

TSE:SGY opened at C$10.07 on Friday. The stock’s fifty day moving average is C$9.50 and its 200 day moving average is C$8.18. Surge Energy Inc. has a fifty-two week low of C$5.53 and a fifty-two week high of C$10.65. The firm has a market capitalization of C$1.01 billion, a PE ratio of 143.86, a PEG ratio of 0.59 and a beta of -0.42. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58.

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 company had revenue of C$75.00 million for the quarter.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a dividend of $0.0433 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, April 30th. Surge Energy’s dividend payout ratio is presently 742.85%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SGY. National Bank Financial increased their target price on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday. Acumen Capital increased their target price on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James Financial increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, ATB Cormark Capital Markets increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$12.46.

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.