Surge Energy (TSE:SGY) Releases Earnings Results

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

Surge Energy Stock Down 6.3%

SGY traded down C$0.74 during mid-day trading on Wednesday, reaching C$10.98. 1,295,095 shares of the stock were exchanged, compared to its average volume of 850,430. The company has a debt-to-equity ratio of 31.11, a quick ratio of 0.40 and a current ratio of 1.04. The stock has a market capitalization of C$1.09 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 0.59 and a beta of -0.20. The company has a 50 day moving average price of C$11.86 and a two-hundred day moving average price of C$9.81. Surge Energy has a 1 year low of C$6.44 and a 1 year high of C$13.39.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets lifted their price target on 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 equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Surge Energy presently 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.