Surge Energy Inc. (TSE:SGY) Director Sells C$100,070.90 in Stock

Key Points

• Surge Energy Director Allison Michelle Maher sold 13,100 shares at an average price of C$7.64, totaling C$100,070.90.
• The company recently announced a monthly dividend of $0.0433 per share, equating to an annualized dividend of $0.52, with a dividend yield of 6.86%.
• Analysts have upgraded the stock's price targets, with ATB Capital setting a new target of C$8.25 and Raymond James moving theirs to C$9.00, while maintaining a consensus rating of "Buy."

Surge Energy Inc. (TSE:SGY - Get Free Report) Director Allison Michelle Maher sold 13,100 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of C$7.64, for a total transaction of C$100,070.90.

Surge Energy Price Performance

Shares of TSE:SGY traded down C$0.06 during trading on Friday, reaching C$7.30. The company had a trading volume of 595,398 shares, compared to its average volume of 571,280. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. Surge Energy Inc. has a 12 month low of C$4.37 and a 12 month high of C$7.84. The company has a fifty day moving average of C$6.34 and a two-hundred day moving average of C$5.71. The stock has a market capitalization of C$734.11 million, a P/E ratio of -9.15, a price-to-earnings-growth 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 Friday, August 15th. Investors of record on Friday, August 15th will be issued a dividend of $0.0433 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 7.1%. Surge Energy's dividend payout ratio (DPR) is currently -65.21%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SGY. Raymond James Financial boosted their target price on shares of Surge Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a research note on Tuesday. ATB Capital upped their target price on shares of Surge Energy from C$7.50 to C$8.25 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Roth Capital set a C$8.50 target price on shares of Surge Energy and gave the stock a "buy" rating in a report on Monday, July 14th.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.