Surge Energy (TSE:SGY) Stock Passes Below Fifty Day Moving Average – Here’s Why

Surge Energy Inc. (TSE:SGY)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$8.44 and traded as low as C$8.07. Surge Energy shares last traded at C$8.33, with a volume of 1,940,351 shares traded.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial upgraded shares of Surge Energy from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$9.00 to C$11.00 in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, Surge Energy currently has an average rating of “Buy” and a consensus price target of C$9.75.

Surge Energy Trading Down 5.9%

The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64. The firm has a market cap of C$823.35 million, a price-to-earnings ratio of 20.83, a PEG ratio of 0.59 and a beta of -0.21. The company has a fifty day moving average price of C$8.44 and a 200-day moving average price of C$7.50.

Surge Energy (TSE:SGY) last issued its earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. The firm had revenue of C$111.40 million for the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.0433 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Surge Energy’s dividend payout ratio (DPR) is presently 130.00%.

Insider Transactions at Surge Energy

In related news, Director Allison Michelle Maher sold 8,999 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of C$8.56, for a total value of C$77,031.44. Following the completion of the transaction, the director directly owned 17,612 shares in the company, valued at C$150,758.72. The trade was a 33.82% decrease in their position. Also, insider Murray Bye sold 20,000 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the sale, the insider directly owned 29,506 shares in the company, valued at C$284,437.84. This trade represents a 40.40% decrease in their ownership of the stock. Insiders have sold 34,124 shares of company stock valued at $317,955 in the last 90 days. 1.97% of the stock is currently owned by company insiders.

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.