Surge Energy (TSE:SGY) Sets New 1-Year High – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$8.72 and last traded at C$8.72, with a volume of 870788 shares traded. The stock had previously closed at C$8.52.

Analysts Set New Price Targets

SGY has been the topic of a number of research reports. Raymond James Financial lowered Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Cormark Capital Markets upped their target price on shares of 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 given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$9.08.

Surge Energy Price Performance

The company has a 50 day simple moving average of C$7.51 and a 200 day simple moving average of C$7.17. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64. The company has a market capitalization of C$862.83 million, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 0.59 and a beta of 0.14.

Surge Energy (TSE:SGY) last announced its quarterly earnings results 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 firm had revenue of C$111.40 million during the quarter.

Insider Buying and Selling

In other Surge Energy news, Director Allison Michelle Maher sold 8,999 shares of the business’s stock in a transaction 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 sale, the director owned 17,612 shares in the company, valued at C$150,758.72. The trade was a 33.82% decrease in their ownership of the stock. 1.97% of the stock is currently owned by corporate insiders.

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.