Surge Energy (TSE:SGY) Stock Passes Below 50 Day Moving Average of $7.12

Surge Energy Inc. (TSE:SGY) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$7.12 and traded as low as C$6.99. Surge Energy shares last traded at C$7.12, with a volume of 446,657 shares traded.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets set a C$10.00 target price on shares of Surge Energy and gave the stock an “outperform” rating in a report on Thursday, March 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$11.58.

Surge Energy Price Performance

The business’s 50 day moving average is C$7.10 and its 200-day moving average is C$6.94. The firm has a market capitalization of C$707.08 million, a P/E ratio of 4.34, a PEG ratio of 0.59 and a beta of 2.66. The company has a quick ratio of 0.40, a current ratio of 0.38 and a debt-to-equity ratio of 34.03.

Surge Energy (TSE:SGY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.17). The firm had revenue of C$158.17 million during the quarter, compared to the consensus estimate of C$158.95 million. Surge Energy had a negative net margin of 0.48% and a negative return on equity of 0.32%. As a group, sell-side analysts predict that Surge Energy Inc. will post 0.7599558 EPS for the current fiscal year.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.48 dividend on an annualized basis and a yield of 6.83%. Surge Energy’s dividend payout ratio is currently 29.63%.

Insider Buying and Selling at Surge Energy

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total value of C$99,869.70. Company insiders own 1.99% 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.