Insider Selling: Surge Energy (TSE:SGY) Director Sells C$103,620.22 in Stock

Surge Energy Inc. (TSE:SGY) Director Allison Michelle Maher sold 9,878 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$10.49, for a total value of C$103,620.22. Following the completion of the sale, the director owned 18,725 shares of the company’s stock, valued at C$196,425.25. This represents a 34.53% decrease in their position.

Allison Michelle Maher also recently made the following trade(s):

• On Thursday, March 12th, Allison Michelle Maher sold 8,999 shares of Surge Energy stock. The shares were sold at an average price of C$8.56, for a total value of C$77,031.44.

Surge Energy Trading Up 1.0%

TSE SGY opened at C$10.51 on Friday. The stock has a 50-day simple moving average of C$9.47 and a 200 day simple moving average of C$8.16. The company has a market capitalization of C$1.05 billion, a PE ratio of 150.14, a P/E/G ratio of 0.59 and a beta of -0.42. The company has a current ratio of 0.58, a quick ratio of 0.40 and a debt-to-equity ratio of 34.75. Surge Energy Inc. has a 12 month low of C$5.45 and a 12 month high of C$10.65.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, May 6th. The company reported C($0.25) 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 Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a $0.0433 dividend. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Thursday, April 30th. Surge Energy’s dividend payout ratio is currently 742.85%.

Analyst Ratings Changes

A number of research firms have issued reports on SGY. National Bank Financial boosted their target price on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday. Acumen Capital boosted their target price on Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a research note on Tuesday. ATB Cormark Capital Markets boosted their target price on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James Financial boosted their target price on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group boosted their target price on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$12.46.

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.