Surge Energy (TSE:SGY) Sets New 1-Year High – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$7.95 and last traded at C$7.92, with a volume of 309559 shares changing hands. The stock had previously closed at C$7.77.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Raymond James Financial lowered Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Cormark Capital Markets boosted their price target on Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Surge Energy presently has an average rating of “Buy” and an average price target of C$9.08.

Surge Energy Stock Up 1.9%

The company has a fifty day moving average price of C$7.04 and a 200-day moving average price of C$7.04. The stock has a market capitalization of C$783.67 million, a P/E ratio of 17.60, a PEG ratio of 0.59 and a beta of 0.16. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

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.