Surge Energy (TSE:SGY) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Surge Energy Inc. (TSE:SGY) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$7.00 and traded as high as C$7.18. Surge Energy shares last traded at C$7.07, with a volume of 775,239 shares traded.

Wall Street Analyst Weigh In

SGY has been the topic of a number of recent research reports. ATB Capital upped their target price on Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$9.08.

Surge Energy Stock Performance

The stock’s 50-day moving average is C$7.00 and its 200-day moving average is C$6.97. The stock has a market cap of C$699.56 million, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.59 and a beta of 0.20. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.The company had revenue of C$119.99 million during the quarter.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were paid a $0.0433 dividend. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date was Thursday, October 30th. Surge Energy’s dividend payout ratio is presently 115.55%.

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.