Surge Energy (TSE:SGY) Insider Murray Bye Sells 20,000 Shares

Surge Energy Inc. (TSE:SGY) insider Murray Bye sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$9.64, for a total value of C$192,800.00. Following the completion of the sale, the insider owned 29,506 shares of the company’s stock, valued at approximately C$284,437.84. This trade represents a 40.40% decrease in their ownership of the stock.

Surge Energy Price Performance

Shares of Surge Energy stock traded up C$0.02 during trading on Tuesday, reaching C$9.40. The company’s stock had a trading volume of 1,338,508 shares, compared to its average volume of 961,947. The stock has a 50-day moving average price of C$7.98 and a two-hundred day moving average price of C$7.32. The stock has a market capitalization of C$929.11 million, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14. The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64. Surge Energy Inc. has a one year low of C$4.37 and a one year high of C$9.70.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%. The firm had revenue of C$111.40 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded shares of Surge Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$9.00 to C$11.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, Surge Energy presently has a consensus rating of “Buy” and an average price target of C$9.75.

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.