Surge Energy (TSE:SGY) Given New C$13.50 Price Target at National Bank Financial

Surge Energy (TSE:SGY) had its target price raised by investment analysts at National Bank Financial from C$12.75 to C$13.50 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 34.73% from the stock’s current price.

A number of other analysts have also issued reports on SGY. Canaccord Genuity Group boosted their price target on shares of Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James Financial boosted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Acumen Capital boosted their price objective on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, Surge Energy presently has a consensus rating of “Buy” and a consensus price target of C$12.46.

Surge Energy Trading Up 6.5%

TSE:SGY traded up C$0.61 on Tuesday, reaching C$10.02. 1,887,103 shares of the company’s stock were exchanged, compared to its average volume of 978,146. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75. The firm has a market capitalization 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 business has a fifty day moving average of C$9.37 and a 200-day moving average of C$8.09. Surge Energy has a 52-week low of C$5.35 and a 52-week high of C$10.46.

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

Insider Buying and Selling

In other news, insider Margaret Ann Elekes sold 25,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the completion of the transaction, the insider directly owned 129,921 shares of the company’s stock, valued at approximately C$1,305,706.05. The trade was a 16.14% decrease in their ownership of the stock. Also, insider Murray Bye sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total value of C$192,800.00. Following the transaction, the insider directly owned 29,506 shares of the company’s stock, valued at approximately C$284,437.84. This represents a 40.40% decrease in their ownership of the stock. In the last ninety days, insiders sold 59,124 shares of company stock valued at $569,205. Corporate 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.