Surge Energy Inc (SGY) Director Buys C$57,750.00 in Stock

Surge Energy Inc (TSE:SGY) Director Paul Colborne bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 26th. The stock was purchased at an average cost of C$2.31 per share, with a total value of C$57,750.00.

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

  • On Monday, June 18th, Paul Colborne bought 15,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.27 per share, with a total value of C$34,050.00.
  • On Thursday, June 14th, Paul Colborne bought 20,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.39 per share, with a total value of C$47,800.00.
  • On Thursday, June 7th, Paul Colborne bought 25,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.43 per share, with a total value of C$60,750.00.
  • On Wednesday, May 16th, Paul Colborne bought 384 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.51 per share, with a total value of C$963.84.
  • On Monday, April 16th, Paul Colborne bought 2,461 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.10 per share, with a total value of C$5,168.10.
  • On Wednesday, April 18th, Paul Colborne bought 600 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.25 per share, with a total value of C$1,350.00.
  • On Tuesday, April 10th, Paul Colborne bought 10,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$2.06 per share, with a total value of C$20,600.00.
  • On Thursday, March 29th, Paul Colborne bought 25,000 shares of Surge Energy stock. The stock was purchased at an average cost of C$1.98 per share, with a total value of C$49,500.00.

SGY traded up C$0.06 during midday trading on Wednesday, reaching C$2.35. 1,172,020 shares of the company were exchanged, compared to its average volume of 817,282. Surge Energy Inc has a one year low of C$1.58 and a one year high of C$2.76.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Tuesday, May 8th. The company reported C$0.29 EPS for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.26. The firm had revenue of C$68.29 million during the quarter, compared to analyst estimates of C$64.60 million. Surge Energy had a negative return on equity of 4.16% and a negative net margin of 18.21%.

The business also recently disclosed a monthly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were issued a dividend of $0.008 per share. This is a positive change from Surge Energy’s previous monthly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Wednesday, May 30th.

A number of brokerages recently commented on SGY. National Bank Financial boosted their target price on Surge Energy from C$3.00 to C$3.25 and gave the company an “outperform” rating in a research report on Wednesday, May 16th. BMO Capital Markets boosted their target price on Surge Energy from C$3.00 to C$3.25 in a research report on Wednesday, May 16th. Canaccord Genuity boosted their price objective on Surge Energy from C$3.50 to C$3.75 in a report on Wednesday, May 16th. CIBC boosted their price objective on Surge Energy from C$2.25 to C$2.75 in a report on Wednesday, May 16th. Finally, GMP Securities boosted their price objective on Surge Energy from C$3.00 to C$3.50 in a report on Wednesday, May 9th.

About Surge Energy

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.

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

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