Insider Selling: Surge Energy Inc. (TSE:SGY) Director Sells C$58,643.99 in Stock

Surge Energy Inc. (TSE:SGY) Director James Murray Pasieka sold 11,213 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total transaction of C$58,643.99.

Surge Energy Stock Up 2.6 %

Shares of TSE SGY opened at C$5.48 on Thursday. The business has a fifty day moving average of C$5.69 and a two-hundred day moving average of C$6.30. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. Surge Energy Inc. has a 52-week low of C$4.94 and a 52-week high of C$8.16. The stock has a market cap of C$549.75 million, a PE ratio of 3.38, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 dividend on an annualized basis and a yield of 9.48%. Surge Energy’s payout ratio is 32.10%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. National Bankshares upped their price target on Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Cormark upgraded Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Canaccord Genuity Group decreased their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. BMO Capital Markets dropped their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Finally, Raymond James raised shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Surge Energy has a consensus rating of “Buy” and an average price target of C$11.00.

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.