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

Surge Energy Inc. (TSE:SGY) hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Analyst Ratings Changes

Several brokerages have weighed in on SGY. Raymond James Financial downgraded Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Cormark Capital Markets lifted their price objective on Surge Energy from C$8.25 to C$9.75 in a research report on Friday, November 21st. One equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$9.08.

Surge Energy Trading Down 0.5%

The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The business’s fifty day moving average is C$7.13 and its 200-day moving average is C$7.06. The stock has a market capitalization of C$791.58 million, a PE ratio of 17.78, a P/E/G ratio of 0.59 and a beta of 0.16.

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.