Surge Energy (TSE:SGY) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Surge Energy Inc. (TSE:SGY)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$5.62 and traded as low as C$5.53. Surge Energy shares last traded at C$5.62, with a volume of 515,388 shares.

Analyst Ratings Changes

Separately, BMO Capital Markets cut their target price on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th.

Surge Energy Stock Up 1.9 %

The company’s fifty day simple moving average is C$5.61 and its 200 day simple moving average is C$5.79. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The firm has a market capitalization of C$588.29 million, a P/E ratio of -7.34, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.0433 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 8.88%. Surge Energy’s payout ratio is -65.21%.

Insider Transactions at Surge Energy

In related news, Director James Murray Pasieka sold 11,213 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99. Corporate insiders own 1.97% of the company’s stock.

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.