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

Shares of Surge Energy Inc. (TSE:SGY) hit a new 52-week high during mid-day trading 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. The stock had previously closed at C$8.94.

Insider Buying and Selling

In other news, insider Jared Ducs sold 5,125 shares of Surge Energy stock in a transaction on Monday, March 30th. The stock was sold at an average price of C$9.39, for a total value of C$48,123.75. Following the completion of the sale, the insider directly owned 127,356 shares of the company’s stock, valued at approximately C$1,195,872.84. This trade represents a 3.87% decrease in their position. Also, Director Allison Michelle Maher sold 8,999 shares of Surge Energy stock in a transaction on Thursday, March 12th. The shares were sold at an average price of C$8.56, for a total value of C$77,031.44. Following the completion of the sale, the director directly owned 17,612 shares of the company’s stock, valued at C$150,758.72. This trade represents a 33.82% decrease in their ownership of the stock. Insiders sold 34,124 shares of company stock worth $317,955 in the last quarter. Insiders own 1.97% of the company’s stock.

Surge Energy Stock Performance

The stock has a market capitalization of C$929.11 million, a price-to-earnings ratio of 23.50, a price-to-earnings-growth 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 moving average of C$8.03 and a 200 day moving average of C$7.34.

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

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.