Surge Energy Inc. (TSE:SGY) Senior Officer Murray Bye Acquires 11,845 Shares

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

Surge Energy Stock Up 2.9%

Shares of TSE:SGY opened at C$4.98 on Monday. The firm 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. The company has a fifty day simple moving average of C$5.25 and a 200 day simple moving average of C$5.52. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. Surge Energy Inc. has a 12-month low of C$4.37 and a 12-month high of C$7.39.

Surge Energy Dividend Announcement

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

Analysts Set New Price Targets

Separately, Raymond James downgraded Surge Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$8.50 to C$6.00 in a 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.