Surge Energy (TSE:SGY) Stock Price Crosses Above 50 Day Moving Average of $7.06

Surge Energy Inc. (TSE:SGY) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$7.06 and traded as high as C$7.33. Surge Energy shares last traded at C$7.29, with a volume of 141,947 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets set a C$10.00 price objective on Surge Energy and gave the company an “outperform” rating in a report on Thursday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$11.58.

Surge Energy Stock Up 0.7 %

The firm has a market capitalization of C$733.23 million, a PE ratio of 4.50, a PEG ratio of 0.59 and a beta of 2.66. The company has a fifty day simple moving average of C$7.06 and a two-hundred day simple moving average of C$6.96. The company has a debt-to-equity ratio of 34.03, a quick ratio of 0.40 and a current ratio of 0.38.

Surge Energy (TSE:SGY) last issued its earnings results on Wednesday, May 8th. The company reported C($0.04) earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.17). The firm had revenue of C$158.17 million during the quarter, compared to analysts’ expectations of C$158.95 million. Surge Energy had a negative return on equity of 0.32% and a negative net margin of 0.48%. Analysts forecast that Surge Energy Inc. will post 0.7599558 EPS for the current fiscal year.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Thursday, June 27th. Surge Energy’s payout ratio is 29.63%.

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.