Surge Energy (TSE:SGY) Price Target Raised to C$9.75

Surge Energy (TSE:SGY) had its price objective hoisted by research analysts at ATB Capital from C$8.25 to C$9.75 in a research report issued on Friday,BayStreet.CA reports. ATB Capital’s target price would indicate a potential upside of 30.70% from the stock’s previous close.

Separately, Raymond James Financial boosted their price objective on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$9.06.

Surge Energy Stock Down 2.4%

Shares of SGY traded down C$0.18 during trading hours on Friday, hitting C$7.46. 411,413 shares of the company were exchanged, compared to its average volume of 570,363. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market cap of C$738.15 million, a PE ratio of 16.58, a PEG ratio of 0.59 and a beta of 0.22. The firm’s 50 day moving average is C$6.96 and its 200-day moving average is C$6.56. Surge Energy has a 52 week low of C$4.37 and a 52 week high of C$7.85.

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 firm had revenue of C$119.99 million during the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.

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.