Surge Energy (TSE:SGY) Releases Quarterly Earnings Results

Surge Energy (TSE:SGY) announced its earnings results on Wednesday. The company reported C$0.55 EPS for the quarter, FiscalAI reports. Surge Energy had a net margin of 7.25% and a return on equity of 6.04%. The company had revenue of C$111.40 million for the quarter.

Surge Energy Trading Up 1.0%

SGY stock traded up C$0.08 during trading on Wednesday, hitting C$8.33. The company had a trading volume of 576,862 shares, compared to its average volume of 867,801. The firm has a market capitalization of C$824.24 million, a P/E ratio of 18.51, a PEG ratio of 0.59 and a beta of 0.16. The company has a quick ratio of 0.40, a current ratio of 0.88 and a debt-to-equity ratio of 32.59. Surge Energy has a 52-week low of C$4.37 and a 52-week high of C$8.58. The company has a 50 day simple moving average of C$7.30 and a 200-day simple moving average of C$7.10.

Wall Street Analyst Weigh In

SGY has been the topic of several research reports. ATB Cormark Capital Markets boosted their price target on Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. Raymond James Financial lowered shares of Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.08.

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.