Surge Energy (TSE:SGY) Insider Sells C$291,742.57 in Stock

Surge Energy Inc. (TSE:SGY) insider Jared Ducs sold 27,601 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.57, for a total transaction of C$291,742.57. Following the sale, the insider directly owned 118,847 shares of the company’s stock, valued at C$1,256,212.79. This represents a 18.85% decrease in their ownership of the stock.

Jared Ducs also recently made the following trade(s):

• On Monday, March 30th, Jared Ducs sold 5,125 shares of Surge Energy stock. The stock was sold at an average price of C$9.39, for a total transaction of C$48,123.75.

Surge Energy Stock Up 0.8%

TSE:SGY traded up C$0.08 during mid-day trading on Wednesday, reaching C$10.43. The company’s stock had a trading volume of 634,917 shares, compared to its average volume of 975,739. Surge Energy Inc. has a 1 year low of C$5.42 and a 1 year high of C$10.65. The stock has a fifty day moving average of C$9.37 and a 200-day moving average of C$8.09. The firm has a market capitalization of C$1.05 billion, a PE ratio of 149.00, a price-to-earnings-growth ratio of 0.59 and a beta of -0.42. 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 data on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.The business had revenue of C$75.00 million during the quarter.

Surge Energy Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.0433 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.0%. Surge Energy’s payout ratio is currently 742.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SGY. National Bank Financial boosted their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday. Canaccord Genuity Group upped their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James Financial upped 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. ATB Cormark Capital Markets upped 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. Finally, Acumen Capital upped their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$12.46.

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.