Key Points
- Director Michelle Gramatke sold 10,000 shares of Surge Energy on June 11 at an average price of C$10.51, totaling about C$105,100. After the sale, she still held 26,180 shares, a 27.64% reduction in her position.
- Surge Energy’s stock has been strong recently, opening at C$10.37 and trading near its 52-week high of C$10.65. The shares are well above their 50-day and 200-day moving averages.
- Analysts remain bullish on the company, with several firms raising price targets and the stock carrying a consensus “Buy” rating. The average target price is C$12.46.
Surge Energy Inc. (TSE:SGY - Get Free Report) Director Michelle Gramatke sold 10,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$10.51, for a total value of C$105,100.00. Following the sale, the director directly owned 26,180 shares of the company's stock, valued at approximately C$275,151.80. This trade represents a 27.64% decrease in their position.
Surge Energy Price Performance
SGY stock opened at C$10.37 on Friday. The business has a fifty day moving average of C$9.59 and a two-hundred day moving average of C$8.26. 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 stock has a market cap of C$1.04 billion, a price-to-earnings ratio of 148.14, a price-to-earnings-growth ratio of 0.59 and a beta of -0.42. Surge Energy Inc. has a 52-week low of C$5.83 and a 52-week high of C$10.65.
Surge Energy (TSE:SGY - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The business had revenue of C$75.00 million for the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.
Surge Energy Dividend Announcement
The firm also recently announced 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 (DPR) is 742.85%.
Analyst Ratings Changes
SGY has been the subject of several recent analyst reports. ATB Cormark Capital Markets raised 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, June 2nd. Acumen Capital lifted their price objective on Surge Energy from C$13.25 to C$13.75 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Raymond James Financial lifted 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. Canaccord Genuity Group lifted 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, June 2nd. Finally, National Bank Financial lifted their price objective on Surge Energy from C$12.75 to C$13.50 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Surge Energy presently has a consensus rating of "Buy" and a consensus target price of C$12.46.
View Our Latest Stock Report 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
