Surge Energy (TSE:SGY) Reaches New 52-Week High – Here’s Why

Surge Energy Inc. (TSE:SGY) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$7.95 and last traded at C$7.92, with a volume of 309559 shares. The stock had previously closed at C$7.77.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James Financial downgraded shares of Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. ATB Cormark Capital Markets boosted their price objective 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.com, the company currently has an average rating of “Buy” and a consensus target price of C$9.08.

Surge Energy Stock Performance

The stock has a market capitalization of C$779.71 million, a PE ratio of 17.51, a PEG ratio of 0.59 and a beta of 0.16. The business has a 50 day moving average price of C$7.08 and a 200 day moving average price of C$7.05. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

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.