Surge Energy Inc. (TSE:SGY) Senior Officer Purchases C$57,803.60 in Stock

Surge Energy Inc. (TSE:SGY) Senior Officer Murray Bye bought 11,845 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of C$4.88 per share, with a total value of C$57,803.60.

Surge Energy Stock Up 2.9%

Shares of TSE SGY opened at C$4.98 on Monday. The stock has a fifty day moving average price of C$5.25 and a 200 day moving average price of C$5.52. The company has a market cap of C$500.80 million, a P/E ratio of -6.25, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy Inc. has a 12-month low of C$4.37 and a 12-month high of C$7.39. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Surge Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a $0.0433 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 10.43%. Surge Energy’s dividend payout ratio (DPR) is currently -65.21%.

Analysts Set New Price Targets

Separately, Raymond James cut shares of Surge Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$8.50 to C$6.00 in a research report on Wednesday, April 9th.

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.