Surge Energy (TSE:SGY) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Surge Energy Inc. (TSE:SGY)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$9.66 and traded as high as C$9.81. Surge Energy shares last traded at C$9.81, with a volume of 459,892 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SGY shares. Canaccord Genuity Group boosted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. National Bank Financial increased their price objective on shares of 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. Raymond James Financial increased their price objective on shares of 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. Acumen Capital lifted their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets boosted their price objective on shares of 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. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$13.25.

Surge Energy Stock Up 3.4%

The business has a 50 day moving average of C$9.66 and a two-hundred day moving average of C$8.72. The stock has a market capitalization of C$982.90 million, a PE ratio of 140.14, a PEG ratio of 0.59 and a beta of -0.39. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The company had revenue of C$75.00 million during the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.

Surge Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0433 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, July 31st. Surge Energy’s dividend payout ratio (DPR) is currently 742.85%.

Insider Activity

In related news, insider Margaret Ann Elekes sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the completion of the sale, the insider owned 129,921 shares of the company’s stock, valued at C$1,305,706.05. This represents a 16.14% decrease in their ownership of the stock. Also, Director Michelle Gramatke sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total transaction of C$105,100.00. Following the sale, the director directly owned 26,180 shares of the company’s stock, valued at C$275,151.80. The trade was a 27.64% decrease in their position. Insiders sold 86,479 shares of company stock worth $900,813 in the last quarter. 1.97% of the stock is currently owned by corporate 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.