Surge Energy (TSE:SGY) Director Michelle Gramatke Sells 10,000 Shares of Stock

Surge Energy Inc. (TSE:SGY) Director Michelle Gramatke sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$10.51, for a total value of C$105,100.00. Following the completion of the transaction, the director owned 26,180 shares in the company, valued at approximately C$275,151.80. This trade represents a 27.64% decrease in their position.

Surge Energy Stock Performance

TSE SGY opened at C$10.37 on Friday. The company has a market cap of C$1.04 billion, a PE ratio of 148.14, a price-to-earnings-growth ratio of 0.59 and a beta of -0.42. The stock’s 50 day simple moving average is C$9.59 and its 200-day simple moving average is C$8.26. Surge Energy Inc. has a 1-year low of C$5.83 and a 1-year high of C$10.65. The company has a debt-to-equity ratio of 34.75, a current ratio of 0.58 and a quick ratio of 0.40.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. The firm 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 given a dividend of $0.0433 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.0%. Surge Energy’s dividend payout ratio (DPR) is presently 742.85%.

Wall Street Analysts Forecast Growth

SGY has been the topic of a number of analyst reports. 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 research report on Tuesday, June 2nd. Raymond James Financial lifted their price objective on 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. ATB Cormark Capital Markets lifted their price objective on 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. Acumen Capital lifted their price objective on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, National Bank Financial lifted their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.