Surge Energy (TSE:SGY) Sets New 1-Year High – Time to Buy?

Shares of Surge Energy Inc. (TSE:SGY) hit a new 52-week high during trading on Monday . The stock 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.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial lowered Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$9.08.

Surge Energy Price Performance

The stock has a 50-day simple moving average of C$7.93 and a 200 day simple moving average of C$7.30. The stock has a market capitalization of C$927.13 million, a P/E ratio of 23.45, 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 quick ratio of 0.40 and a current ratio of 0.78.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, March 4th. The company reported C$0.55 earnings per share for the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.The company 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 dated Thursday, March 12th. The stock was 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 directly owned 17,612 shares of the company’s stock, valued at approximately C$150,758.72. The trade was a 33.82% decrease in their position. 1.97% of the stock is currently owned by 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.