Insider Selling: Surge Energy (TSE:SGY) Director Sells 9,878 Shares of Stock

Surge Energy Inc. (TSE:SGY) Director Allison Michelle Maher sold 9,878 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total transaction of C$103,620.22. Following the completion of the transaction, the director owned 18,725 shares in the company, valued at C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock.

Allison Michelle Maher also recently made the following trade(s):

• On Thursday, March 12th, Allison Michelle Maher sold 8,999 shares of Surge Energy stock. The shares were sold at an average price of C$8.56, for a total transaction of C$77,031.44.

Surge Energy Stock Performance

TSE:SGY traded up C$0.61 during midday trading on Tuesday, reaching C$10.02. The stock had a trading volume of 1,887,103 shares, compared to its average volume of 978,146. Surge Energy Inc. has a 1-year low of C$5.35 and a 1-year high of C$10.46. The firm’s fifty 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 current ratio of 0.58 and a quick ratio of 0.40. The stock has a market capitalization of C$1.00 billion, a P/E ratio of 143.14, a PEG ratio of 0.59 and a beta of -0.12.

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

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a $0.0433 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, April 30th. Surge Energy’s dividend payout ratio (DPR) is currently 742.85%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SGY. National Bank Financial raised their price target on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James Financial raised 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 report on Tuesday. Canaccord Genuity Group raised 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 report on Tuesday. Acumen Capital raised 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 report on Tuesday. Finally, ATB Cormark Capital Markets raised 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 report on Tuesday. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, Surge Energy presently has a consensus rating of “Buy” and an average 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.