Surge Energy (TSE:SGY) Announces Quarterly Earnings Results

Surge Energy (TSE:SGY) released its earnings results on Wednesday. The company reported C($0.25) EPS for the quarter, FiscalAI reports. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.The company had revenue of C$75.00 million for the quarter.

Surge Energy Price Performance

Surge Energy stock opened at C$9.67 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64. The company has a fifty day simple moving average of C$8.85 and a 200-day simple moving average of C$7.70. The stock has a market cap of C$955.79 million, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 0.59 and a beta of -0.12. Surge Energy has a 12-month low of C$4.56 and a 12-month high of C$10.17.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.0433 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, April 30th. Surge Energy’s payout ratio is 130.00%.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded Surge Energy from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$9.00 to C$11.00 in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$9.75.

Insider Activity at Surge Energy

In other Surge Energy news, insider Jared Ducs sold 5,125 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of C$9.39, for a total value of C$48,123.75. Following the sale, the insider directly owned 127,356 shares in the company, valued at C$1,195,872.84. This trade represents a 3.87% decrease in their ownership of the stock. Also, Director Allison Michelle Maher sold 8,999 shares of Surge Energy stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total value of C$77,031.44. Following the sale, the director directly owned 17,612 shares of the company’s stock, valued at C$150,758.72. This trade represents a 33.82% decrease in their ownership of the stock. Insiders have sold 34,124 shares of company stock valued at $317,955 over the last quarter. 1.97% of the stock is owned by insiders.

About Surge Energy

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.