Surge Energy (TSE:SGY) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Surge Energy Inc. (TSE:SGY) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-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 Analyst Weigh In

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

Surge Energy Stock Up 3.4%

The stock has a market capitalization of C$982.90 million, a PE ratio of 140.14, a price-to-earnings-growth ratio of 0.59 and a beta of -0.39. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40. The business’s fifty day moving average price is C$9.66 and its two-hundred day moving average price is C$8.72.

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

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0433 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. Surge Energy’s dividend payout ratio is currently 742.85%.

Insider Transactions at Surge Energy

In related news, insider Margaret Ann Elekes sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$10.05, for a total value of C$251,250.00. Following the sale, the insider owned 129,921 shares in the company, valued at C$1,305,706.05. This represents a 16.14% decrease in their ownership of the stock. Also, insider Jared Ducs sold 27,601 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$10.57, for a total transaction of C$291,742.57. Following the completion of the transaction, the insider owned 118,847 shares in the company, valued at approximately C$1,256,212.79. This trade represents a 18.85% decrease in their position. In the last ninety days, insiders have sold 86,479 shares of company stock valued at $900,813. 1.97% of the stock is owned by company insiders.

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.