ATB Cormark Capital Markets Issues Positive Forecast for Surge Energy (TSE:SGY) Stock Price

Surge Energy (TSE:SGY) had its target price lifted by research analysts at ATB Cormark Capital Markets from C$13.00 to C$15.00 in a research report issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target points to a potential upside of 26.80% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Acumen Capital boosted their price objective on shares of Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Raymond James Financial raised their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. National Bank Financial boosted their price target on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Canaccord Genuity Group boosted their price target on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$13.65.

Surge Energy Price Performance

Shares of Surge Energy stock remained flat at C$11.83 during midday trading on Thursday. 274,356 shares of the company traded hands, compared to its average volume of 880,133. The business has a 50-day moving average price of C$10.60 and a two-hundred day moving average price of C$9.76. The stock has a market capitalization of C$1.17 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 0.59 and a beta of -0.43. The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11. Surge Energy has a 52-week low of C$6.42 and a 52-week high of C$12.70.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share for the quarter. The company had revenue of C$191.22 million for the quarter. Surge Energy had a net margin of 8.01% and a return on equity of 6.18%.

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.