Surge Energy (TSE:SGY) Stock Price Passes Below Fifty Day Moving Average - Time to Sell?

Key Points

• Surge Energy's stock price has dropped below its fifty-day moving average, trading at C$7.05, down from a moving average of C$7.06.
• Analysts have raised their price targets for Surge Energy, with ATB Capital setting it at C$8.25 and Raymond James Financial at C$9.00, both with an "outperform" rating.
• The company announced a dividend of $0.0433 per share to be paid out on October 15th, with a high payout ratio of 94.48%.

Surge Energy Inc. (TSE:SGY - Get Free Report) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$7.06 and traded as low as C$7.05. Surge Energy shares last traded at C$7.12, with a volume of 309,945 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. ATB Capital boosted their target price on Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Raymond James Financial boosted their target price on Surge Energy from C$8.00 to C$9.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, Roth Capital set a C$8.50 target price on Surge Energy and gave the company a "buy" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, Surge Energy presently has a consensus rating of "Buy" and an average price target of C$9.05.

Surge Energy Stock Performance

The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of C$705.54 million, a PE ratio of 12.95, a P/E/G ratio of 0.59 and a beta of 0.75. The stock has a 50 day moving average of C$7.06 and a two-hundred day moving average of C$6.16.

Surge Energy Announces Dividend

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

Insider Buying and Selling

In other Surge Energy news, Director Allison Michelle Maher sold 13,100 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of C$7.64, for a total transaction of C$100,070.90. Insiders own 1.97% of the company's stock.

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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