Surge Energy (TSE:SGY) Raised to Outperform at Raymond James Financial
by Kim Johansen · The Markets DailySurge Energy (TSE:SGY – Get Free Report) was upgraded by investment analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a report released on Monday,BayStreet.CA reports. The brokerage currently has a C$11.00 price objective on the stock, up from their prior price objective of C$9.00. Raymond James Financial’s price target would indicate a potential upside of 17.02% from the stock’s current price.
Surge Energy Price Performance
SGY stock traded up C$0.46 during midday trading on Monday, reaching C$9.40. 1,268,452 shares of the stock were exchanged, compared to its average volume of 950,899. The stock has a market capitalization of C$929.11 million, a PE ratio of 23.50, a P/E/G ratio of 0.59 and a beta of 0.14. Surge Energy has a 52 week low of C$4.37 and a 52 week high of C$9.48. The company has a debt-to-equity ratio of 33.64, a current ratio of 0.78 and a quick ratio of 0.40. The company has a fifty day moving average price of C$7.93 and a 200 day moving average price of C$7.30.
Surge Energy (TSE:SGY – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported C$0.55 earnings per share (EPS) for the quarter. The company had revenue of C$111.40 million during the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.
Insider Transactions at Surge Energy
In other Surge Energy news, Director Allison Michelle Maher sold 8,999 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of C$8.56, for a total value of C$77,031.44. Following the completion of the sale, the director directly owned 17,612 shares in the company, valued at approximately C$150,758.72. This trade represents a 33.82% decrease in their ownership of the stock. 1.97% of the stock is currently owned by corporate 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.