Key Points
- Insider sale: Surge Energy director Allison Michelle Maher sold 9,878 shares on June 2 at an average price of C$10.49, worth about C$103,620. After the transaction, she still owned 18,725 shares.
- Stock performance: Surge Energy shares were up 3.3% and opened at C$10.35, near the 52-week high of C$10.62. The stock has also climbed above its 50-day and 200-day moving averages.
- Analyst sentiment: Several firms raised their price targets to between C$13.00 and C$13.75, and the stock now carries a consensus Buy rating with an average target of C$12.46.
Surge Energy Inc. (TSE:SGY - Get Free Report) Director Allison Michelle Maher sold 9,878 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total value of C$103,620.22. Following the sale, the director directly owned 18,725 shares of the company's stock, valued at approximately C$196,425.25. This represents a 34.53% decrease in their ownership of the stock.
Allison Michelle Maher also recently made the following trade(s):
- On Thursday, March 12th, Allison Michelle Maher sold 8,999 shares of Surge Energy stock. The shares were sold at an average price of C$8.56, for a total value of C$77,031.44.
Surge Energy Stock Up 3.3%
SGY opened at C$10.35 on Wednesday. The business has a 50 day moving average price of C$9.37 and a two-hundred day moving average price of C$8.09. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. The company has a market cap of C$1.04 billion, a PE ratio of 147.86, a P/E/G ratio of 0.59 and a beta of -0.12. Surge Energy Inc. has a 52 week low of C$5.35 and a 52 week high of C$10.62.
Surge Energy (TSE:SGY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) EPS for the quarter. The company had revenue of C$75.00 million for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.
Surge Energy Dividend Announcement
The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.0433 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.0%. Surge Energy's dividend payout ratio is currently 742.85%.
Analyst Upgrades and Downgrades
SGY has been the subject of several analyst reports. ATB Cormark Capital Markets upped 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. Canaccord Genuity Group upped their price objective on Surge Energy from C$12.00 to C$13.00 and gave the company a "buy" rating in a research note on Tuesday. Raymond James Financial increased their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock an "outperform" rating in a research note on Tuesday. Acumen Capital raised their price target on Surge Energy from C$13.25 to C$13.75 and gave the company a "buy" rating in a report on Tuesday. Finally, National Bank Financial raised their price target on Surge Energy from C$12.75 to C$13.50 and gave the company an "outperform" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$12.46.
Read Our Latest Stock Analysis on SGY
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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