Insider Selling: Surge Energy (TSE:SGY) Insider Sells 25,000 Shares of Stock

Surge Energy Inc. (TSE:SGY) insider Margaret Ann Elekes sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the sale, the insider directly owned 129,921 shares of the company’s stock, valued at approximately C$1,305,706.05. This represents a 16.14% decrease in their ownership of the stock.

Surge Energy Stock Performance

Shares of TSE SGY traded up C$0.18 during trading hours on Friday, hitting C$10.13. 661,650 shares of the stock were exchanged, compared to its average volume of 986,402. 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 company’s 50 day moving average is C$9.06 and its 200 day moving average is C$7.83. The firm has a market capitalization of C$1.01 billion, a P/E ratio of 144.71, a P/E/G ratio of 0.59 and a beta of -0.12. Surge Energy Inc. has a one year low of C$5.16 and a one year high of C$10.17.

Surge Energy (TSE:SGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The firm 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 Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.0433 per share. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, April 30th. Surge Energy’s dividend payout ratio is presently 742.85%.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial upgraded shares of Surge Energy from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$9.00 to C$11.00 in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, Surge Energy currently has a consensus rating of “Buy” and a consensus target price of C$9.75.

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.