Surge Energy (TSE:SGY) Insider Sells C$192,800.00 in Stock

Key Points

• Insider sale: Murray Bye sold 20,000 shares at an average price of C$9.64 on March 31 for C$192,800, cutting his stake by 40.4% to 29,506 shares (worth C$284,437.84).
• Stock and outlook: SGY traded at C$9.40 (52‑week range C$4.37–C$9.70) with a market cap of C$929.11M and a P/E of 23.5, and Raymond James upgraded the stock to a "moderate buy" with a C$11 target amid an overall "Buy" consensus.

Surge Energy Inc. (TSE:SGY - Get Free Report) insider Murray Bye sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$9.64, for a total value of C$192,800.00. Following the completion of the sale, the insider directly owned 29,506 shares in the company, valued at C$284,437.84. This trade represents a 40.40% decrease in their position.

Surge Energy Stock Performance

TSE SGY traded up C$0.02 during trading on Tuesday, hitting C$9.40. The company's stock had a trading volume of 1,338,508 shares, compared to its average volume of 961,947. Surge Energy Inc. has a 52 week low of C$4.37 and a 52 week high of C$9.70. The firm has a market cap of C$929.11 million, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14. The firm has a 50 day moving average price of C$7.98 and a 200 day moving average price of C$7.32. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64.

Surge Energy (TSE:SGY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported C$0.55 earnings per share for the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.The company had revenue of C$111.40 million during the quarter.

Analyst Ratings Changes

Separately, Raymond James Financial raised Surge Energy from a "hold" rating to a "moderate buy" rating and upped their price target for the company from C$9.00 to C$11.00 in a report on Monday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$9.75.

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.

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