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

Surge Energy Inc. (TSE:SGY) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$5.71 and traded as high as C$5.86. Surge Energy shares last traded at C$5.82, with a volume of 784,638 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets cut their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th.

Surge Energy Trading Up 0.5 %

The business has a fifty day moving average of C$5.71 and a 200-day moving average of C$6.14. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The company has a market capitalization of C$583.86 million, a P/E ratio of 3.59, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.08). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%.

Surge Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be given a $0.0433 dividend. This represents a $0.52 annualized dividend and a yield of 8.93%. The ex-dividend date is Friday, January 31st. Surge Energy’s dividend payout ratio is 32.10%.

Insider Activity at Surge Energy

In other Surge Energy news, Director James Murray Pasieka sold 11,213 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total transaction of C$58,643.99. 1.97% of the stock is currently owned by company insiders.

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.