Surge Energy Inc. (TSE:SGY - Get Free Report) rose 2% on Tuesday . The stock traded as high as C$7.64 and last traded at C$7.55. Approximately 310,493 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 562,234 shares. The stock had previously closed at C$7.40.
Wall Street Analysts Forecast Growth
SGY has been the subject of several analyst reports. ATB Capital raised their price objective on Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a report on Tuesday. Roth Capital set a C$8.50 price objective on Surge Energy and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Raymond James Financial raised their price objective on Surge Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Surge Energy has a consensus rating of "Buy" and an average price target of C$9.89.
Check Out Our Latest Research Report on Surge Energy
Surge Energy Price Performance
The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The firm has a market cap of C$761.26 million, a P/E ratio of -9.49, a PEG ratio of 0.59 and a beta of 2.54. The business has a fifty day moving average of C$6.25 and a 200 day moving average of C$5.69.
Surge Energy Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.0433 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.52 annualized dividend and a yield of 6.86%. Surge Energy's dividend payout ratio (DPR) is presently -65.21%.
Insider Activity at Surge Energy
In other Surge Energy news, Director Allison Michelle Maher sold 13,100 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of C$7.64, for a total transaction of C$100,070.90. Also, Senior Officer Murray Bye acquired 11,845 shares of the business's stock in a transaction on Friday, May 9th. The shares were bought at an average price of C$4.88 per share, with a total value of C$57,803.60. Company insiders own 1.97% of the company's stock.
About Surge Energy
(
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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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