Cormark Reiterates “Top Pick” Rating for Surge Energy (TSE:SGY)

Surge Energy (TSE:SGYGet Rating)‘s stock had its “top pick” rating restated by research analysts at Cormark in a research note issued on Wednesday, reports. They currently have a C$15.50 target price on the stock. Cormark’s price target would indicate a potential upside of 66.49% from the company’s current price.

Other research analysts have also recently issued research reports about the company. National Bankshares dropped their price target on Surge Energy to C$14.00 in a research report on Friday, September 30th. ATB Capital reiterated an “outperform” rating and set a C$15.00 target price on shares of Surge Energy in a report on Thursday, October 27th.

Surge Energy Stock Down 0.2 %

Shares of TSE SGY opened at C$9.31 on Wednesday. The stock has a market capitalization of C$781.83 million and a price-to-earnings ratio of 8.17. Surge Energy has a 52 week low of C$3.74 and a 52 week high of C$13.68. The firm has a 50-day moving average price of C$9.16 and a 200 day moving average price of C$9.64. The company has a quick ratio of 0.40, a current ratio of 0.43 and a debt-to-equity ratio of 43.07.

Surge Energy (TSE:SGYGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported C$0.91 EPS for the quarter, topping the consensus estimate of C$0.49 by C$0.42. The firm had revenue of C$179.30 million for the quarter. Equities research analysts anticipate that Surge Energy will post 1.55 EPS for the current fiscal year.

Surge Energy Company Profile

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Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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