Margaret Ann Elekes Sells 25,000 Shares of Surge Energy (TSE:SGY) Stock

Surge Energy Inc. (TSE:SGY) insider Margaret Ann Elekes sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the completion of the transaction, the insider owned 129,921 shares of the company’s stock, valued at C$1,305,706.05. The trade was a 16.14% decrease in their ownership of the stock.

Surge Energy Price Performance

SGY stock opened at C$10.15 on Friday. The company has a 50 day simple moving average of C$9.10 and a 200 day simple moving average of C$7.84. The stock has a market cap of C$1.02 billion, a price-to-earnings ratio of 145.00, a P/E/G ratio of 0.59 and a beta of -0.12. Surge Energy Inc. has a 1 year low of C$5.16 and a 1 year high of C$10.17. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40.

Surge Energy (TSE:SGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%. The business had revenue of C$75.00 million during the quarter.

Surge Energy Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a $0.0433 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.1%. Surge Energy’s dividend payout ratio is currently 742.85%.

Wall Street Analyst Weigh In

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

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.