Surge Energy (TSE:SGY) Price Target Raised to C$13.00 at Raymond James Financial

Surge Energy (TSE:SGY) had its price target hoisted by research analysts at Raymond James Financial from C$12.00 to C$13.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 29.74% from the company’s previous close.

Surge Energy Stock Up 6.5%

Shares of TSE:SGY traded up C$0.61 during midday trading on Tuesday, reaching C$10.02. The company’s stock had a trading volume of 1,887,103 shares, compared to its average volume of 978,146. The firm has a 50 day moving average of C$9.37 and a 200-day moving average of C$8.09. The firm has a market capitalization of C$1.00 billion, a P/E ratio of 143.14, a PEG ratio of 0.59 and a beta of -0.12. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. Surge Energy has a 12-month low of C$5.35 and a 12-month high of C$10.46.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. The business had revenue of C$75.00 million during the quarter. Surge Energy had a return on equity of 1.01% and a net margin of 1.39%.

Insider Activity

In related news, insider Jared Ducs sold 5,125 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of C$9.39, for a total transaction of C$48,123.75. Following the sale, the insider directly owned 127,356 shares of the company’s stock, valued at approximately C$1,195,872.84. This represents a 3.87% decrease in their position. Also, insider Margaret Ann Elekes sold 25,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the sale, the insider directly owned 129,921 shares in the company, valued at C$1,305,706.05. This trade represents a 16.14% decrease in their ownership of the stock. Over the last 90 days, insiders sold 59,124 shares of company stock valued at $569,205. Company insiders own 1.97% of the company’s stock.

Surge Energy Company Profile

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.