Surge Energy (TSE:SGY) Price Target Raised to C$13.00 at Raymond James Financial

Surge Energy (TSE:SGY) had its price objective hoisted by equities research analysts at Raymond James Financial from C$12.00 to C$13.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 29.74% from the stock’s previous close.

Surge Energy Price Performance

Surge Energy stock traded up C$0.61 during mid-day trading on Tuesday, hitting C$10.02. 1,887,103 shares of the company traded hands, compared to its average volume of 978,146. Surge Energy has a one year low of C$5.35 and a one year high of C$10.46. The stock has a market cap of C$1.00 billion, a price-to-earnings ratio of 143.14, a price-to-earnings-growth ratio of 0.59 and a beta of -0.12. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.40 and a current ratio of 0.58. The stock has a fifty day moving average price of C$9.37 and a 200-day moving average price of C$8.09.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share (EPS) for the quarter. The company had revenue of C$75.00 million for the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.

Insider Buying and Selling at Surge Energy

In other 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 value of C$77,031.44. Following the completion of the sale, the director directly owned 17,612 shares in the company, valued at approximately C$150,758.72. The trade was a 33.82% decrease in their position. Also, insider Murray Bye sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was 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 owned 29,506 shares of the company’s stock, valued at approximately C$284,437.84. The trade was a 40.40% decrease in their ownership of the stock. In the last quarter, insiders have sold 59,124 shares of company stock valued at $569,205. Insiders own 1.97% of the company’s stock.

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.