Surge Energy (TSE:SGY) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Shares of Surge Energy Inc. (TSE:SGY) passed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

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

Surge Energy Stock Performance

The firm’s 50 day moving average is C$8.44 and its two-hundred day moving average is C$7.50. The stock has a market capitalization of C$823.35 million, a PE ratio of 20.83, a P/E/G ratio of 0.59 and a beta of -0.21. The company has a debt-to-equity ratio of 33.64, a quick ratio of 0.40 and a current ratio of 0.78.

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

Surge Energy Dividend Announcement

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

Insider Buying and Selling

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

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.