Surge Energy Inc. (TSE:SGY) Director Sells C$58,643.99 in Stock

Surge Energy Inc. (TSE:SGY) Director James Murray Pasieka sold 11,213 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99.

Surge Energy Price Performance

SGY opened at C$5.48 on Thursday. The company has a fifty day moving average price of C$5.69 and a two-hundred day moving average price of C$6.30. The firm has a market capitalization of C$549.75 million, a PE ratio of 3.38, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy Inc. has a 52 week low of C$4.94 and a 52 week high of C$8.16. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date of this dividend was Thursday, October 31st. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s dividend payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SGY shares. Canaccord Genuity Group lowered their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. National Bankshares boosted their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Cormark raised Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. BMO Capital Markets lowered their target price on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Finally, Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Surge Energy has an average rating of “Buy” and an average target price of C$11.00.

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.