Surge Energy (TSE:SGY) Sets New 1-Year High – What’s Next?

Surge Energy Inc. (TSE:SGY)’s stock price hit a new 52-week high on Monday . The company traded as high as C$8.72 and last traded at C$8.72, with a volume of 870788 shares traded. The stock had previously closed at C$8.52.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Cormark Capital Markets lifted their target price on shares of Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$9.08.

Surge Energy Trading Up 2.3%

The firm has a market capitalization of C$862.83 million, a price-to-earnings ratio of 21.80, a P/E/G ratio of 0.59 and a beta of 0.14. The business has a 50-day moving average of C$7.51 and a two-hundred day moving average of C$7.17. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64.

Surge Energy (TSE:SGY) last issued its earnings results on Wednesday, March 4th. The company reported C$0.55 earnings per share for the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%. The business had revenue of C$111.40 million for the quarter.

Insider Buying and Selling at Surge Energy

In other Surge Energy news, Director Allison Michelle Maher sold 8,999 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the completion of the sale, the director directly owned 17,612 shares of the company’s stock, valued at approximately C$150,758.72. The trade was a 33.82% decrease in their position. 1.97% of the stock is currently owned by insiders.

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.