Murray Bye Sells 5,692 Shares of Surge Energy Inc. (TSE:SGY) Stock

Surge Energy Inc. (TSE:SGY) Senior Officer Murray Bye sold 5,692 shares of the business’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of C$4.03, for a total value of C$22,938.76. Following the completion of the transaction, the insider now directly owns 156,916 shares in the company, valued at approximately C$632,371.48.

Shares of TSE SGY opened at C$4.02 on Wednesday. The firm has a market cap of C$287.83 million and a P/E ratio of 0.72. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 123.82. Surge Energy Inc. has a 1-year low of C$1.21 and a 1-year high of C$6.46. The business’s 50 day moving average is C$1.83 and its 200-day moving average is C$1.04.

Surge Energy (TSE:SGY) last announced its earnings results on Thursday, July 29th. The company reported C($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.01) by C($0.01). The firm had revenue of C$80.88 million during the quarter, compared to the consensus estimate of C$85.00 million. Analysts forecast that Surge Energy Inc. will post 1.27 EPS for the current year.

A number of equities research analysts recently commented on SGY shares. Raymond James reiterated an “outperform” rating and issued a C$1.25 price objective on shares of Surge Energy in a report on Tuesday, August 3rd. National Bankshares increased their price target on Surge Energy from C$0.90 to C$1.00 in a report on Thursday, June 17th. Finally, National Bank Financial increased their price target on Surge Energy to C$1.00 and gave the stock a “sector perform” rating in a report on Thursday, June 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Surge Energy currently has an average rating of “Hold” and a consensus price target of C$1.06.

About Surge Energy

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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