Surge Energy (TSE:SGY) Shares Cross Above 50-Day Moving Average – Here’s Why

Surge Energy Inc. (TSE:SGY) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$5.69 and traded as high as C$5.79. Surge Energy shares last traded at C$5.64, with a volume of 552,722 shares traded.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets decreased their price target on shares of Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th.

Surge Energy Price Performance

The stock has a market cap of C$567.18 million, a P/E ratio of -7.07, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The business has a 50-day simple moving average of C$5.69 and a 200 day simple moving average of C$5.94. 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 Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were issued a $0.0433 dividend. This represents a $0.52 annualized dividend and a yield of 9.21%. The ex-dividend date of this dividend was Friday, January 31st. Surge Energy’s payout ratio is presently -65.21%.

Insider Buying and Selling at Surge Energy

In related news, Director James Murray Pasieka sold 11,213 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99. Insiders own 1.97% of the company’s stock.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.