Surge Energy (TSE:SGY) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$9.57 and traded as high as C$10.33. Surge Energy shares last traded at C$10.17, with a volume of 430,972 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented on SGY shares. National Bank Financial lifted their price objective 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. 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. Raymond James Financial 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. Acumen Capital boosted their price target 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. Finally, Canaccord Genuity Group boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Surge Energy currently has a consensus rating of “Buy” and an average target price of C$12.46.

Surge Energy Price Performance

The stock’s 50 day moving average price is C$9.62 and its two-hundred day moving average price is C$8.27. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40. The firm has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 145.29, a PEG ratio of 0.59 and a beta of -0.42.

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

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors 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 yield of 5.1%. Surge Energy’s dividend payout ratio (DPR) is presently 742.85%.

Insider Buying and Selling at Surge Energy

In related news, Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction that occurred 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 owned 26,180 shares of the company’s stock, valued at C$275,151.80. This trade represents a 27.64% decrease in their position. Also, insider Murray Bye sold 20,000 shares of Surge Energy stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the transaction, the insider directly owned 29,506 shares in the company, valued at C$284,437.84. The trade was a 40.40% decrease in their position. Insiders have sold 111,604 shares of company stock worth $1,141,737 over the last ninety days. 1.97% of the stock is owned by corporate insiders.

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.