Surge Energy (TSE:SGY) Trading Up 0.7% - Still a Buy?

Shares of Surge Energy Inc. (TSE:SGY - Get Free Report) were up 0.7% during trading on Tuesday . The stock traded as high as C$6.15 and last traded at C$6.09. Approximately 572,736 shares were traded during trading, an increase of 8% from the average daily volume of 531,648 shares. The stock had previously closed at C$6.05.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered shares of Surge Energy from an "outperform" rating to a "market perform" rating and cut their target price for the company from C$8.50 to C$6.00 in a research note on Wednesday, April 9th.

Surge Energy Trading Up 4.6%

The firm has a market capitalization of C$640.59 million, a price-to-earnings ratio of -7.99, a P/E/G ratio of 0.59 and a beta of 2.54. The business has a 50-day moving average of C$5.18 and a two-hundred day moving average of C$5.46. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were given a dividend of $0.0433 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.52 annualized dividend and a dividend yield of 8.16%. Surge Energy's dividend payout ratio (DPR) is currently -65.21%.

Insider Activity

In other news, Senior Officer Murray Bye bought 11,845 shares of the business's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of C$4.88 per share, for a total transaction of C$57,803.60. 1.97% of the stock is owned by company insiders.

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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