Surge Energy (TSE:SGY) Stock Crosses Above 50-Day Moving Average – What’s Next?

Shares of Surge Energy Inc. (TSE:SGY) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$9.66 and traded as high as C$9.81. Surge Energy shares last traded at C$9.81, with a volume of 459,892 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SGY. Acumen Capital increased their target price on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. ATB Cormark Capital Markets upped their price objective on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. National Bank Financial increased their price objective on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Raymond James Financial lifted their target price 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. Finally, Canaccord Genuity Group upped their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$13.25.

Surge Energy Price Performance

The company has a fifty day simple moving average of C$9.66 and a two-hundred day simple moving average of C$8.74. The stock has a market capitalization of C$1.05 billion, a price-to-earnings ratio of 149.57, a PEG ratio of 0.59 and a beta of -0.39. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58.

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

Surge Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a dividend of $0.0433 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.0%. Surge Energy’s dividend payout ratio (DPR) is currently 742.85%.

Insider Activity

In other news, Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$10.51, for a total value of C$105,100.00. Following the transaction, the director owned 26,180 shares in the company, valued at approximately C$275,151.80. This trade represents a 27.64% decrease in their position. Also, Director Allison Michelle Maher sold 9,878 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 18,725 shares of the company’s stock, valued at approximately C$196,425.25. The trade was a 34.53% decrease in their position. Over the last ninety days, insiders sold 86,479 shares of company stock valued at $900,813. 1.97% of the stock is owned by 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.