Surge Energy (TSE:SGY) Price Target Raised to C$11.00

Surge Energy (TSE:SGY) had its price target lifted by equities researchers at BMO Capital Markets from C$10.00 to C$11.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 58.73% from the stock’s current price.

Surge Energy Stock Performance

TSE SGY traded up C$0.11 during trading hours on Wednesday, hitting C$6.93. 865,147 shares of the stock were exchanged, compared to its average volume of 440,523. The company has a quick ratio of 0.40, a current ratio of 0.38 and a debt-to-equity ratio of 34.03. The stock has a 50-day moving average of C$7.00 and a 200 day moving average of C$7.02. Surge Energy has a 12-month low of C$5.89 and a 12-month high of C$9.77. The company has a market cap of C$697.02 million, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, May 8th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.17). Surge Energy had a negative net margin of 0.48% and a negative return on equity of 0.32%. The company had revenue of C$158.17 million during the quarter, compared to analysts’ expectations of C$158.95 million. As a group, equities research analysts forecast that Surge Energy will post 0.7599558 earnings per share for the current year.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.