Surge Energy (TSE:SGY) Share Price Passes Above 50 Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$5.71 and traded as high as C$5.86. Surge Energy shares last traded at C$5.82, with a volume of 784,638 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SGY. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. BMO Capital Markets reduced their price target on Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th. Canaccord Genuity Group decreased their price objective on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Finally, National Bankshares increased their target price on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th.

Surge Energy Trading Up 0.5 %

The company’s fifty day simple moving average is C$5.71 and its two-hundred day simple moving average is C$6.14. The company has a market capitalization of C$583.86 million, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.17 EPS for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.08). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend is Friday, January 31st. Surge Energy’s dividend payout ratio is currently 32.10%.

Insider Activity

In related news, Director James Murray Pasieka sold 11,213 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$5.23, for a total value of C$58,643.99. 1.97% of the stock is currently owned by company insiders.

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.