Insider Selling: Surge Energy (TSE:SGY) Insider Sells 5,125 Shares of Stock

Surge Energy Inc. (TSE:SGY) insider Jared Ducs sold 5,125 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of C$9.39, for a total transaction of C$48,123.75. Following the transaction, the insider owned 127,356 shares of the company’s stock, valued at approximately C$1,195,872.84. This trade represents a 3.87% decrease in their position.

Surge Energy Price Performance

Shares of TSE SGY traded up C$0.38 during midday trading on Monday, reaching C$9.32. The company’s stock had a trading volume of 1,343,428 shares, compared to its average volume of 952,088. The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64. The company has a 50 day moving average price of C$7.93 and a 200 day moving average price of C$7.30. Surge Energy Inc. has a one year low of C$4.37 and a one year high of C$9.48. The company has a market cap of C$921.20 million, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. The business had revenue of C$111.40 million during the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial raised Surge Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$9.00 to C$11.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$9.75.

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.