Surge Energy (TSE:SGY) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$5.62 and traded as low as C$5.53. Surge Energy shares last traded at C$5.62, with a volume of 515,388 shares trading hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets dropped their target price on Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th.

Surge Energy Stock Performance

The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The stock has a market capitalization of C$588.29 million, a P/E ratio of -7.34, a P/E/G ratio of 0.59 and a beta of 2.54. The business has a fifty day moving average price of C$5.61 and a 200-day moving average price of C$5.79.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date is Monday, March 31st. Surge Energy’s payout ratio is presently -65.21%.

Insider Activity

In related news, Director James Murray Pasieka sold 11,213 shares of Surge Energy stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$5.23, for a total value of C$58,643.99. 1.97% of the stock is owned by corporate insiders.

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.