Surge Energy (TSE:SGY) Reaches New 52-Week High – Still a Buy?

Shares of Surge Energy Inc. (TSE:SGY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$7.88 and last traded at C$7.77, with a volume of 271799 shares. The stock had previously closed at C$7.62.

Analyst Upgrades and Downgrades

SGY has been the subject of a number of recent analyst reports. Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. ATB Capital lifted their price target on shares of Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$9.08.

Surge Energy Stock Performance

The firm has a market cap of C$767.84 million, a PE ratio of 17.24, a P/E/G ratio of 0.59 and a beta of 0.16. The firm has a 50-day moving average price of C$7.01 and a two-hundred day moving average price of C$7.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share (EPS) for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.The firm had revenue of C$119.99 million for 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.