Margaret Ann Elekes Sells 14,000 Shares of Surge Energy (TSE:SGY) Stock

Surge Energy Inc. (TSE:SGY) insider Margaret Ann Elekes sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 C$1,074,808.65. This trade represents a 12.18% decrease in their position.

Margaret Ann Elekes also recently made the following trade(s):

• On Friday, May 15th, Margaret Ann Elekes sold 25,000 shares of Surge Energy stock. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00.

Surge Energy Stock Up 0.8%

Shares of SGY traded up C$0.08 on Wednesday, hitting C$10.43. 634,917 shares of the stock traded hands, compared to its average volume of 975,739. The company has a market capitalization of C$1.05 billion, a PE ratio of 149.00, a P/E/G ratio of 0.59 and a beta of -0.42. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58. The business has a 50 day simple moving average of C$9.37 and a 200 day simple moving average of C$8.09. Surge Energy Inc. has a one year low of C$5.42 and a one year high of C$10.65.

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

Surge Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday. Acumen Capital raised their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday. National Bank Financial raised 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. Raymond James Financial raised their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, ATB Cormark Capital Markets raised their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, Surge Energy currently has an average rating of “Buy” and an average price target of C$12.46.

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.