Insider Selling: Surge Energy (TSE:SGY) Director Sells 10,000 Shares of Stock

Surge Energy Inc. (TSE:SGY) Director Michelle Gramatke sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total transaction of C$105,100.00. Following the transaction, the director directly owned 26,180 shares of the company’s stock, valued at C$275,151.80. The trade was a 27.64% decrease in their position.

Surge Energy Trading Up 2.5%

Shares of SGY stock traded up C$0.25 during trading hours on Thursday, hitting C$10.42. 850,669 shares of the company’s stock traded hands, compared to its average volume of 959,637. The stock’s 50 day simple moving average is C$9.57 and its 200 day simple moving average is C$8.24. The stock has a market cap of C$1.04 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 0.59 and a beta of -0.42. Surge Energy Inc. has a 12 month low of C$5.83 and a 12 month high of C$10.65. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75.

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

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.0433 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.0%. Surge Energy’s dividend payout ratio (DPR) is presently 742.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SGY shares. National Bank Financial raised their price target on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Acumen Capital lifted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Raymond James Financial lifted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group lifted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$12.46.

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.