Insider Selling: Surge Energy Inc. (TSE:SGY) Director Sells 11,213 Shares of Stock

Surge Energy Inc. (TSE:SGY) Director James Murray Pasieka sold 11,213 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total transaction of C$58,643.99.

Surge Energy Trading Up 2.6 %

Shares of SGY opened at C$5.48 on Wednesday. The company’s fifty day simple moving average is C$5.71 and its 200-day simple moving average is C$6.31. The company has a market cap of C$549.75 million, a P/E ratio of 3.38, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. Surge Energy Inc. has a twelve month low of C$4.94 and a twelve month high of C$8.16.

Surge Energy Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.0433 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.52 annualized dividend and a yield of 9.48%. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s dividend payout ratio (DPR) is presently 32.10%.

Analyst Upgrades and Downgrades

SGY has been the subject of a number of research reports. Canaccord Genuity Group dropped their price target on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Cormark raised shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. BMO Capital Markets dropped their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. Finally, National Bankshares lifted their price target on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$11.00.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.