Surge Energy (TSE:SGY) Stock Price Passes Above 50-Day Moving Average of $7.38

Surge Energy Inc. (TSE:SGY)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$7.38 and traded as high as C$7.45. Surge Energy shares last traded at C$7.15, with a volume of 561,769 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on SGY shares. BMO Capital Markets set a C$10.00 price target on Surge Energy and gave the stock an “outperform” rating in a research report on Thursday, March 21st. National Bankshares dropped their price target on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. ATB Capital lowered their price objective on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Finally, Raymond James lowered their price objective on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$11.79.

Surge Energy Stock Performance

The stock has a 50-day moving average price of C$7.38 and a 200 day moving average price of C$7.36. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. The firm has a market cap of C$719.15 million, a PE ratio of 4.41, a P/E/G ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. The firm had revenue of C$168.45 million for the quarter, compared to analysts’ expectations of C$179.30 million. Research analysts forecast that Surge Energy Inc. will post 1.0050697 earnings per share for the current year.

Surge Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Monday, April 29th. Surge Energy’s dividend payout ratio is presently 29.63%.

Insiders Place Their Bets

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total transaction of C$99,869.70. 1.91% of the stock is currently owned by insiders.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.