ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Surge Energy (TSE:SGY) Stock

Surge Energy (TSE:SGY) had its price objective lifted by equities research analysts at ATB Cormark Capital Markets from C$13.00 to C$15.00 in a research report issued on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 26.80% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Raymond James Financial increased their price objective on shares of Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Acumen Capital boosted their target price on shares of Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group upped their target price on shares of Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, National Bank Financial increased their price target on shares of Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$13.65.

Surge Energy Stock Performance

Surge Energy stock remained flat at C$11.83 during midday trading on Thursday. 274,356 shares of the company traded hands, compared to its average volume of 880,133. Surge Energy has a one year low of C$6.42 and a one year high of C$12.70. The stock has a market capitalization of C$1.17 billion, a P/E ratio of 26.89, a PEG ratio of 0.59 and a beta of -0.43. The stock has a 50-day moving average of C$10.60 and a two-hundred day moving average of C$9.76. The company has a quick ratio of 0.40, a current ratio of 1.04 and a debt-to-equity ratio of 31.11.

Surge Energy (TSE:SGY) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.68 EPS for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.The business had revenue of C$191.22 million for the quarter.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.