Insider Selling: Surge Energy (TSE:SGY) Insider Sells C$192,800.00 in Stock

Surge Energy Inc. (TSE:SGY) insider Murray Bye sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the sale, the insider owned 29,506 shares in the company, valued at C$284,437.84. The trade was a 40.40% decrease in their ownership of the stock.

Surge Energy Stock Up 3.4%

Shares of TSE:SGY opened at C$9.04 on Friday. Surge Energy Inc. has a fifty-two week low of C$4.37 and a fifty-two week high of C$9.70. The firm’s 50 day moving average price is C$8.11 and its 200 day moving average price is C$7.36. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64. The stock has a market cap of C$893.52 million, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%. The company had revenue of C$111.40 million during the quarter.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded Surge Energy from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$9.00 to C$11.00 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$9.75.

Surge Energy Company Profile

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.