Surge Energy (TSE:SGY) Cut to Market Perform at Raymond James Financial

Surge Energy (TSE:SGY) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Tuesday,BayStreet.CA reports.

Separately, ATB Capital increased their price objective on shares of Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Surge Energy has an average rating of “Buy” and an average price target of C$9.06.

Surge Energy Price Performance

SGY traded down C$0.25 during trading on Tuesday, reaching C$7.13. 573,282 shares of the company traded hands, compared to its average volume of 567,025. The company has a market cap of C$705.50 million, a P/E ratio of 15.84, a PEG ratio of 0.59 and a beta of 0.30. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. Surge Energy has a 12-month low of C$4.37 and a 12-month high of C$7.85. The firm has a fifty day simple moving average of C$7.05 and a 200 day simple moving average of C$6.77.

Surge Energy (TSE:SGY) last issued 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 net margin of 13.88% and a negative return on equity of 10.13%.

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.