Surge Energy Inc. (TSE:SGY – Get Free Report)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$9.70 and traded as high as C$10.19. Surge Energy shares last traded at C$9.75, with a volume of 1,113,786 shares traded.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Raymond James Financial 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, June 2nd. ATB Cormark Capital Markets increased their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group raised their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. National Bank Financial raised their target price on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Acumen Capital lifted their target price on Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$13.25.
Get Our Latest Stock Analysis on Surge Energy
Surge Energy Trading Down 4.1%
Surge Energy (TSE:SGY – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The business had revenue of C$191.22 million during the quarter. Surge Energy had a net margin of 8.01% and a return on equity of 6.18%.
Surge Energy Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be issued a $0.0433 dividend. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, July 31st. Surge Energy’s dividend payout ratio (DPR) is 118.18%.
Insider Transactions at Surge Energy
In other Surge Energy news, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$10.49, for a total value of C$103,620.22. Following the sale, the director owned 18,725 shares of the company’s stock, valued at C$196,425.25. The trade was a 34.53% decrease in their ownership of the stock. Also, insider Jared Ducs sold 27,601 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.57, for a total value of C$291,742.57. Following the transaction, the insider owned 118,847 shares in the company, valued at C$1,256,212.79. This trade represents a 18.85% decrease in their ownership of the stock. Insiders sold 86,479 shares of company stock worth $900,813 in the last ninety days. 1.97% of the stock is owned by company insiders.
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.
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