Surge Energy (TSE:SGY) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Shares of Surge Energy Inc. (TSE:SGY) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$5.67 and traded as high as C$6.14. Surge Energy shares last traded at C$6.03, with a volume of 759,851 shares.

Analyst Ratings Changes

SGY has been the subject of several research reports. Cormark upgraded Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. National Bankshares raised their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. BMO Capital Markets decreased their target price on shares of Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group decreased their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$11.00.

Surge Energy Stock Performance

The company has a market cap of C$593.89 million, a price-to-earnings ratio of 3.65, a P/E/G ratio of 0.59 and a beta of 2.54. 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 firm has a fifty day simple moving average of C$5.67 and a 200 day simple moving average of C$6.18.

Surge Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a $0.0433 dividend. This represents a $0.52 annualized dividend and a dividend yield of 8.78%. The ex-dividend date of this dividend is Friday, January 31st. Surge Energy’s dividend payout ratio is currently 32.10%.

Insider Buying and Selling

In other news, 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. 1.97% of the stock is owned by insiders.

Surge Energy Company Profile

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.