Surge Energy (TSE:SGY) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Surge Energy Inc. (TSE:SGY) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$7.01 and traded as high as C$7.48. Surge Energy shares last traded at C$7.41, with a volume of 327,066 shares trading hands.

Analyst Ratings Changes

Separately, ATB Capital upped their target price on Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.06.

Surge Energy Trading Up 0.3%

The business’s 50 day simple moving average is C$7.01 and its two-hundred day simple moving average is C$6.67. The stock has a market cap of C$733.20 million, a P/E ratio of 16.47, a PEG ratio of 0.59 and a beta of 0.22. 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 (TSE:SGY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.The business had revenue of C$119.99 million for the quarter.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were issued a $0.0433 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Thursday, October 30th. Surge Energy’s dividend payout ratio (DPR) is 115.55%.

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.