Surge Energy (TSE:SGY) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$7.00 and traded as high as C$7.18. Surge Energy shares last traded at C$7.07, with a volume of 775,239 shares trading hands.

Analyst Ratings Changes

SGY has been the subject of several research analyst reports. ATB Capital upped their price target on shares of Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. Raymond James Financial lowered Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$9.08.

Surge Energy Stock Performance

The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The company’s 50-day moving average price is C$7.00 and its two-hundred day moving average price is C$6.98. The company has a market capitalization of C$699.56 million, a price-to-earnings ratio of 15.71, a PEG ratio of 0.59 and a beta of 0.20.

Surge Energy (TSE:SGY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 earnings per share (EPS) for the quarter. The company had revenue of C$119.99 million for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were issued a $0.0433 dividend. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Thursday, October 30th. Surge Energy’s dividend payout ratio (DPR) is presently 115.55%.

About Surge Energy

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.