Surge Energy (TSE:SGY) Sets New 12-Month High Following Analyst Upgrade

Shares of Surge Energy Inc. (TSE:SGY) reached a new 52-week high on Monday after Raymond James Financial upgraded the stock from a hold rating to a moderate buy rating. Raymond James Financial now has a C$11.00 price target on the stock, up from their previous price target of C$9.00. Surge Energy traded as high as C$9.27 and last traded at C$9.16, with a volume of 341451 shares traded. The stock had previously closed at C$8.94.

Insiders Place Their Bets

In other Surge Energy news, Director Allison Michelle Maher sold 8,999 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the completion of the transaction, the director owned 17,612 shares in the company, valued at C$150,758.72. The trade was a 33.82% decrease in their position. Also, insider Murray Bye sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the completion of the sale, the insider directly owned 29,506 shares in the company, valued at approximately C$284,437.84. This represents a 40.40% decrease in their ownership of the stock. Insiders sold 34,124 shares of company stock worth $317,955 in the last 90 days. Corporate insiders own 1.97% of the company’s stock.

Surge Energy Stock Performance

The company has a market capitalization of C$929.11 million, a price-to-earnings ratio of 23.50, a PEG ratio of 0.59 and a beta of 0.14. The company has a debt-to-equity ratio of 33.64, a current ratio of 0.78 and a quick ratio of 0.40. The stock has a 50 day simple moving average of C$8.03 and a two-hundred day simple moving average of C$7.34.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, March 4th. The company reported C$0.55 earnings per share (EPS) for the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.The business had revenue of C$111.40 million during the quarter.

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.