Insider Selling: Surge Energy (TSE:SGY) Director Sells C$105,100.00 in Stock

Surge Energy Inc. (TSE:SGY) Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total transaction of C$105,100.00. Following the transaction, the director directly owned 26,180 shares in the company, valued at C$275,151.80. This represents a 27.64% decrease in their position.

Surge Energy Price Performance

Shares of TSE:SGY opened at C$10.17 on Friday. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40. Surge Energy Inc. has a 1-year low of C$5.93 and a 1-year high of C$10.65. The company has a market capitalization of C$1.02 billion, a P/E ratio of 145.29, a P/E/G ratio of 0.59 and a beta of -0.42. The firm’s 50 day simple moving average is C$9.62 and its two-hundred day simple moving average is C$8.27.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share 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 for the quarter.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a $0.0433 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, April 30th. Surge Energy’s payout ratio is 742.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SGY shares. National Bank Financial boosted their target price on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Acumen Capital boosted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. ATB Cormark Capital Markets boosted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group boosted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Raymond James Financial boosted their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, Surge Energy presently has an average rating of “Buy” and an average target price of C$12.46.

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.