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

Surge Energy Inc. (TSE:SGY - Get Free Report) Director James Murray Pasieka sold 11,213 shares of the 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 Stock Up 3.7 %

Shares of TSE:SGY traded up C$0.19 during mid-day trading on Monday, hitting C$5.34. 674,913 shares of the company traded hands, compared to its average volume of 482,782. The stock has a 50-day moving average price of C$5.76 and a two-hundred day moving average price of C$6.33. Surge Energy Inc. has a 12-month low of C$4.94 and a 12-month high of C$8.16. The stock has a market cap of C$535.71 million, a P/E ratio of 3.30, 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 Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.0433 dividend. This is a positive change from Surge Energy's previous monthly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 9.73%. Surge Energy's dividend payout ratio is presently 32.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James upgraded Surge Energy to a "moderate buy" rating in a report on Thursday, October 17th. Canaccord Genuity Group cut their target price on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. BMO Capital Markets reduced their price target on shares of Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th. National Bankshares increased their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Finally, Cormark raised Surge Energy to a "moderate buy" rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$11.00.

Surge Energy Company Profile

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.