Surge Energy (TSE:SGY) Stock Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Surge Energy's stock price recently fell below its 50-day moving average of C$7.05, with current trading at C$7.20.
• Analysts have issued a predominantly positive outlook on Surge Energy, with target prices ranging from C$8.25 to C$9.00, reflecting an average rating of "Buy."
• The company announced a dividend of $0.0433 per share, with a payout ratio close to 94.48%, reinforcing its commitment to returning value to shareholders.

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$7.05 and traded as low as C$7.05. Surge Energy shares last traded at C$7.20, with a volume of 579,051 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SGY. ATB Capital lifted their price objective on shares of Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Roth Capital set a C$8.50 price target on shares of Surge Energy and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Raymond James Financial boosted their price objective on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$9.42.

Surge Energy Stock Performance

The stock's 50 day moving average price is C$7.05 and its 200 day moving average price is C$6.10. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The company has a market cap of C$713.46 million, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.59 and a beta of 0.75.

Surge Energy Dividend Announcement

The firm also recently announced a oct 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.0433 per share. Surge Energy's dividend payout ratio (DPR) is presently 94.48%.

Insider Transactions at Surge Energy

In related news, Director Allison Michelle Maher sold 13,100 shares of the 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. Company insiders own 1.97% of the company's stock.

About Surge Energy

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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