Surge Energy (TSE:SGY) Reaches New 12-Month High – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$8.16 and last traded at C$8.00, with a volume of 926314 shares traded. The stock had previously closed at C$8.04.

Analysts Set New Price Targets

A number of brokerages recently commented on SGY. ATB Cormark Capital Markets increased their price objective on shares of Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. Raymond James Financial lowered shares of Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$9.08.

Surge Energy Trading Down 0.5%

The firm has a market cap of C$791.58 million, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.59 and a beta of 0.16. The business has a 50 day moving average of C$7.13 and a 200 day moving average of C$7.06. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

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.