Surge Energy (TSE:SGY) Shares Pass Below 50-Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$7.05 and traded as low as C$7.05. Surge Energy shares last traded at C$7.20, with a volume of 579,051 shares.

Analysts Set New Price Targets

SGY has been the subject of a number of research analyst reports. Raymond James Financial increased their target price on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. ATB Capital upped their price target on Surge Energy from C$7.50 to C$8.25 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Finally, Roth Capital set a C$8.50 price target on Surge Energy and gave the stock a “buy” rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, Surge Energy has an average rating of “Buy” and an average target price of C$9.42.

Surge Energy Stock Performance

The stock has a market cap of C$713.46 million, a PE ratio of 13.09, a PEG ratio of 0.59 and a beta of 0.75. The stock has a fifty day simple moving average of C$7.05 and a two-hundred day simple moving average of C$6.10. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66.

Surge Energy Announces Dividend

The business also recently declared a oct 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.0433 dividend. Surge Energy’s dividend payout ratio is presently 94.48%.

Insider Activity at Surge Energy

In other news, Director Allison Michelle Maher sold 13,100 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of C$7.64, for a total transaction of C$100,070.90. 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.