Insider Buying: Surge Energy Inc (SGY) Director Buys 25,000 Shares of Stock

Surge Energy Inc (TSE:SGY) Director Paul Colborne acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was purchased at an average cost of C$2.33 per share, with a total value of C$58,250.00.

Paul Colborne also recently made the following trade(s):

  • On Thursday, October 18th, Paul Colborne acquired 5,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.20 per share, with a total value of C$11,000.00.
  • On Monday, October 1st, Paul Colborne acquired 10,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.65 per share, with a total value of C$26,500.00.
  • On Tuesday, September 25th, Paul Colborne acquired 10,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.69 per share, with a total value of C$26,900.00.
  • On Friday, September 21st, Paul Colborne acquired 10,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.49 per share, with a total value of C$24,900.00.
  • On Monday, September 17th, Paul Colborne acquired 2,420 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.46 per share, with a total value of C$5,953.20.
  • On Wednesday, September 19th, Paul Colborne acquired 10,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.50 per share, with a total value of C$25,000.00.
  • On Friday, September 7th, Paul Colborne acquired 25,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.28 per share, with a total value of C$57,000.00.

SGY stock traded down C$0.02 during mid-day trading on Monday, reaching C$2.23. 374,479 shares of the company traded hands, compared to its average volume of 754,480. Surge Energy Inc has a 52-week low of C$1.58 and a 52-week high of C$2.76.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, August 8th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$87.09 million during the quarter. Surge Energy had a negative return on equity of 4.16% and a negative net margin of 18.21%.

The business also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.0083 per share. This represents a $0.10 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, October 30th.

Several equities research analysts recently weighed in on SGY shares. TD Securities lifted their price objective on Surge Energy from C$3.25 to C$3.50 and gave the stock a “buy” rating in a report on Friday, September 7th. Industrial Alliance Securities reissued a “buy” rating and issued a C$4.00 price objective on shares of Surge Energy in a report on Friday, September 21st. Cormark lifted their price objective on Surge Energy from C$4.00 to C$4.50 in a report on Tuesday, October 9th. Raymond James lifted their price objective on Surge Energy from C$3.25 to C$3.50 and gave the stock an “outperform” rating in a report on Friday, September 7th. Finally, CIBC lifted their price objective on Surge Energy from C$2.75 to C$3.00 in a report on Friday, July 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Surge Energy currently has an average rating of “Buy” and a consensus target price of C$3.41.

Surge Energy Company Profile

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

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Insider Buying and Selling by Quarter for Surge Energy (TSE:SGY)

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