Key Points
- Insider sale: Surge Energy insider Margaret Ann Elekes sold 25,000 shares at C$10.05 each, totaling C$251,250. After the transaction, she still held 129,921 shares.
- Company performance and valuation: The stock recently traded near its 52-week high at C$10.15, with a market cap of about C$1.02 billion. Recent financials showed quarterly EPS of C($0.25) on revenue of C$75 million.
- Dividend and analyst outlook: Surge Energy paid a monthly dividend of C$0.0433 per share, implying a 5.1% yield, while Raymond James upgraded the stock to moderate buy and raised its target to C$11.00.
Surge Energy Inc. (TSE:SGY - Get Free Report) 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 transaction of C$251,250.00. Following the sale, the insider directly owned 129,921 shares of the company's stock, valued at approximately C$1,305,706.05. This trade represents a 16.14% decrease in their position.
Surge Energy Stock Performance
Shares of Surge Energy stock opened at C$10.15 on Friday. The company has a 50 day moving average of C$9.10 and a 200-day moving average of C$7.84. Surge Energy Inc. has a 1-year low of C$5.16 and a 1-year high of C$10.17. The company has a current ratio of 0.58, a quick ratio of 0.40 and a debt-to-equity ratio of 34.75. The company has a market cap of C$1.02 billion, a PE ratio of 145.00, a price-to-earnings-growth ratio of 0.59 and a beta of -0.12.
Surge Energy (TSE:SGY - Get Free Report) 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 return on equity of 1.01% and a net margin of 1.39%.The firm had revenue of C$75.00 million for the quarter.
Surge Energy Announces Dividend
The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.1%. Surge Energy's dividend payout ratio is presently 742.85%.
Wall Street Analyst Weigh In
Separately, Raymond James Financial raised shares of Surge Energy from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from C$9.00 to C$11.00 in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$9.75.
Check Out Our Latest Report on Surge Energy
Surge Energy Company Profile
(
Get Free Report)
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.
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