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

Surge Energy (TSE:SGY) had its price target upped by National Bank Financial from C$12.75 to C$13.50 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 34.73% from the company’s previous close.

SGY has been the subject of a number of other reports. Acumen Capital raised their target price on Surge Energy from C$13.25 to C$13.75 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group raised their target price on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James Financial raised 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. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, Surge Energy presently has a consensus rating of “Buy” and an average target price of C$12.46.

Surge Energy Trading Up 6.5%

Shares of SGY traded up C$0.61 during midday trading on Tuesday, reaching C$10.02. The company had a trading volume of 1,887,103 shares, compared to its average volume of 978,146. Surge Energy has a 1-year low of C$5.35 and a 1-year high of C$10.46. The stock has a market cap of C$1.00 billion, a PE ratio of 143.14, a price-to-earnings-growth ratio of 0.59 and a beta of -0.12. The firm has a 50 day simple moving average of C$9.37 and a 200-day simple moving average of C$8.09. The company has a quick ratio of 0.40, a current ratio of 0.58 and a debt-to-equity ratio of 34.75.

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

Insider Activity at Surge Energy

In other news, insider Jared Ducs sold 5,125 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of C$9.39, for a total value of C$48,123.75. Following the sale, the insider directly owned 127,356 shares of the company’s stock, valued at approximately C$1,195,872.84. The trade was a 3.87% decrease in their position. Also, insider Margaret Ann Elekes sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$10.05, for a total transaction of C$251,250.00. Following the completion of the sale, the insider directly owned 129,921 shares in the company, valued at C$1,305,706.05. This trade represents a 16.14% decrease in their ownership of the stock. Insiders sold a total of 59,124 shares of company stock valued at $569,205 over the last 90 days. 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.