Insider Selling: Surge Energy Inc. (TSE:SGY) Director Sells 11,213 Shares of Stock

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

Surge Energy Trading Up 2.9 %

TSE:SGY traded up C$0.15 during mid-day trading on Monday, reaching C$5.30. 397,496 shares of the company’s stock traded hands, compared to its average volume of 481,498. Surge Energy Inc. has a 12-month low of C$4.94 and a 12-month high of C$8.16. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The company has a 50 day moving average price of C$5.76 and a 200-day moving average price of C$6.33. The firm has a market capitalization of C$531.70 million, a price-to-earnings ratio of 3.27, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 9.80%. 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 Analyst Weigh In

A number of brokerages recently commented on SGY. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Canaccord Genuity Group decreased their price objective on Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Raymond James upgraded Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. National Bankshares lifted their price target on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Finally, BMO Capital Markets lowered their price objective on Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th. 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, the stock has a consensus rating of “Buy” and an average price target 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.