Surge Energy (TSE:SGY) Reaches New 1-Year High – Here’s Why

Surge Energy Inc. (TSE:SGY) shares reached a new 52-week high on Wednesday . The company traded as high as C$7.88 and last traded at C$7.77, with a volume of 271799 shares traded. The stock had previously closed at C$7.62.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SGY. Raymond James Financial downgraded shares of Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Capital boosted their target price on Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Surge Energy currently has a consensus rating of “Buy” and an average target price of C$9.08.

Surge Energy Trading Up 1.8%

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 company’s 50-day moving average is C$7.01 and its 200-day moving average is C$7.03. The stock has a market capitalization of C$767.84 million, a price-to-earnings ratio of 17.24, a PEG ratio of 0.59 and a beta of 0.16.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. The company had revenue of C$119.99 million for the quarter. Surge Energy had a negative net margin of 13.88% and a negative return on equity of 10.13%.

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.