Surge Energy (TSE:SGY) Issues Quarterly Earnings Results

Surge Energy (TSE:SGY) issued its earnings results on Wednesday. The company reported C$0.04 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$105.89 million for the quarter. Surge Energy had a net margin of 8.01% and a return on equity of 6.18%.

Surge Energy Stock Down 6.3%

Shares of SGY stock opened at C$10.98 on Thursday. Surge Energy has a 1-year low of C$6.44 and a 1-year high of C$13.39. The stock’s fifty day moving average price is C$11.86 and its 200 day moving average price is C$9.84. The company has a debt-to-equity ratio of 31.11, a current ratio of 1.04 and a quick ratio of 0.40. The company has a market cap of C$1.09 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 0.59 and a beta of -0.20.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets increased their price objective on shares of Surge Energy from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$13.65.

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.