Surge Energy (TSE:SGY) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Surge Energy Inc. (TSE:SGY) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$5.65 and traded as low as C$5.51. Surge Energy shares last traded at C$5.56, with a volume of 301,839 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on SGY shares. Canaccord Genuity Group dropped their price objective on Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. BMO Capital Markets lowered their price target on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Finally, Raymond James raised Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th.

Surge Energy Price Performance

The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a 50 day moving average price of C$5.65 and a 200-day moving average price of C$5.99. The stock has a market capitalization of C$559.13 million, a price-to-earnings ratio of -6.97, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Surge Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date is Friday, January 31st. Surge Energy’s dividend payout ratio (DPR) is currently -65.21%.

Insiders Place Their Bets

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