Surge Energy (TSE:SGY) Stock Price Expected to Rise, ATB Capital Analyst Says

Surge Energy (TSE:SGY) had its price objective lifted by equities research analysts at ATB Capital from C$8.25 to C$9.75 in a research note issued to investors on Friday,BayStreet.CA reports. ATB Capital’s price objective would suggest a potential upside of 30.70% from the stock’s current price.

Separately, Raymond James Financial increased their price objective on shares of Surge Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, Surge Energy presently has an average rating of “Buy” and an average price target of C$9.06.

Surge Energy Stock Down 2.4%

Shares of TSE:SGY traded down C$0.18 during trading on Friday, hitting C$7.46. The company’s stock had a trading volume of 411,413 shares, compared to its average volume of 570,363. The stock’s 50-day moving average price is C$6.96 and its two-hundred day moving average price is C$6.56. Surge Energy has a fifty-two week low of C$4.37 and a fifty-two week high of C$7.85. The company has a market capitalization of C$738.15 million, a PE ratio of 16.58, a PEG ratio of 0.59 and a beta of 0.22. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66.

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

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.