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 firm’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 owned 118,847 shares in the company, valued at approximately C$1,256,212.79. This represents a 18.85% decrease in their position.

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

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

Surge Energy Price Performance

Surge Energy stock traded up C$0.08 during trading on Wednesday, reaching C$10.43. The company had a trading volume of 634,917 shares, compared to its average volume of 975,739. The firm’s 50-day simple moving average is C$9.37 and its 200 day simple moving average is C$8.09. 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 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. Surge Energy Inc. has a 1-year low of C$5.42 and a 1-year high of C$10.65.

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

Surge Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SGY shares. ATB Cormark Capital Markets lifted their price target on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday. Acumen Capital lifted their price target on 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 boosted 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 report on Tuesday. Canaccord Genuity Group upped their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Raymond James Financial lifted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Surge Energy has an average rating of “Buy” and an average price target 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.