Surge Energy (TSE:SGY) Shares Pass Above 50 Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$5.67 and traded as high as C$6.14. Surge Energy shares last traded at C$6.03, with a volume of 759,851 shares trading hands.

Wall Street Analyst Weigh In

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

Surge Energy Price Performance

The company’s 50 day simple moving average is C$5.67 and its 200 day simple moving average is C$6.19. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The stock has a market capitalization of C$604.93 million, a PE ratio of 3.72, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be paid a $0.0433 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.52 annualized dividend and a yield of 8.62%. Surge Energy’s payout ratio is currently 32.10%.

Insider Buying and Selling

In related news, Director James Murray Pasieka sold 11,213 shares of the business’s stock in a transaction that occurred 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.

Surge Energy Company Profile

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.