Surge Energy (TSE:SGY) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Surge Energy Inc. (TSE:SGY)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$9.70 and traded as high as C$10.19. Surge Energy shares last traded at C$9.75, with a volume of 1,113,786 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial lifted their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group raised their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. ATB Cormark Capital Markets boosted their price target 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. National Bank Financial boosted their price target on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Acumen Capital upped their price objective on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$13.25.

Surge Energy Stock Down 4.1%

The firm has a market cap of C$976.89 million, a PE ratio of 22.16, a PEG ratio of 0.59 and a beta of -0.42. The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11. The firm has a 50 day moving average price of C$9.70 and a 200-day moving average price of C$8.98.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The firm had revenue of C$191.22 million for the quarter. Surge Energy had a net margin of 8.01% and a return on equity of 6.18%.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. Surge Energy’s dividend payout ratio is currently 118.18%.

Insider Activity

In other news, Director Michelle Gramatke sold 10,000 shares of Surge Energy 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 completion of the sale, the director directly owned 26,180 shares of the company’s stock, valued at approximately C$275,151.80. The trade was a 27.64% decrease in their position. Also, insider Margaret Ann Elekes sold 14,000 shares of Surge Energy stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.65, for a total transaction of C$149,100.00. Following the sale, the insider directly owned 100,921 shares of the company’s stock, valued at approximately C$1,074,808.65. This trade represents a 12.18% decrease in their ownership of the stock. Insiders have sold a total of 86,479 shares of company stock valued at $900,813 over the last quarter. Company insiders own 1.97% of the company’s stock.

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.