Surge Energy (TSE:SGY) Releases Earnings Results

Surge Energy (TSE:SGY) posted its earnings results on Wednesday. The company reported C$0.68 earnings per share (EPS) for the quarter, FiscalAI reports. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%. The business had revenue of C$191.22 million for the quarter.

Surge Energy Stock Up 0.2%

SGY stock opened at C$9.91 on Friday. The company has a market cap of C$992.92 million, a price-to-earnings ratio of 141.57, a PEG ratio of 0.59 and a beta of -0.39. 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 has a 12 month low of C$6.42 and a 12 month high of C$10.65. The firm has a 50-day moving average of C$9.65 and a two-hundred day moving average of C$8.88.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.0433 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, July 31st. Surge Energy’s dividend payout ratio is currently 742.85%.

Analysts Set New Price Targets

A number of analysts have recently commented on SGY shares. ATB Cormark Capital Markets boosted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. National Bank Financial upped their price objective on shares of Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Acumen Capital increased their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Raymond James Financial upped their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Canaccord Genuity Group lifted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$13.25.

Insider Buying and Selling

In other Surge Energy news, insider Margaret Ann Elekes sold 14,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.65, for a total transaction of C$149,100.00. Following the transaction, the insider owned 100,921 shares of the company’s stock, valued at approximately C$1,074,808.65. The trade was a 12.18% decrease in their ownership of the stock. Also, insider Jared Ducs sold 27,601 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$10.57, for a total value of C$291,742.57. Following the completion of the sale, the insider owned 118,847 shares of the company’s stock, valued at approximately C$1,256,212.79. The trade was a 18.85% decrease in their ownership of the stock. Insiders have sold 86,479 shares of company stock valued at $900,813 over the last ninety days. 1.97% of the stock is currently owned by company insiders.

Surge Energy Company Profile

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.