Surge Energy (TSE:SGY) Shares Pass Above 50-Day Moving Average – Time to Sell?

Surge Energy Inc. (TSE:SGY) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$9.70 and traded as high as C$10.19. Surge Energy shares last traded at C$9.75, with a volume of 1,113,786 shares traded.

Analyst Upgrades and Downgrades

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

Surge Energy Stock Performance

The stock has a market cap of C$1.00 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 0.59 and a beta of -0.42. The company has a debt-to-equity ratio of 31.11, a current ratio of 1.04 and a quick ratio of 0.40. The firm has a fifty day moving average of C$9.73 and a 200 day moving average of C$9.01.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The company had revenue of C$191.22 million for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.

Surge Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a dividend of $0.0433 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.2%. Surge Energy’s payout ratio is presently 118.18%.

Insider Activity

In other Surge Energy news, Director Michelle Gramatke sold 10,000 shares of Surge Energy stock in a transaction dated 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 of the company’s stock, valued at C$275,151.80. The trade was a 27.64% decrease in their ownership of the stock. Also, insider Jared Ducs sold 27,601 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 C$1,256,212.79. The trade was a 18.85% decrease in their ownership of the stock. Over the last three months, insiders sold 86,479 shares of company stock worth $900,813. Company insiders own 1.97% of the company’s stock.

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.