Surge Energy (TSE:SGY) Hits New 52-Week High – Still a Buy?

Surge Energy Inc. (TSE:SGY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$7.88 and last traded at C$7.77, with a volume of 271799 shares traded. The stock had previously closed at C$7.62.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. ATB Cormark Capital Markets raised their target price on Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Surge Energy currently has a consensus rating of “Buy” and a consensus price target of C$9.08.

Surge Energy Price Performance

The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market cap of C$744.09 million, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.59 and a beta of 0.16. The company’s 50 day moving average price is C$7.02 and its 200 day moving average price is C$7.04.

Surge Energy (TSE:SGY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. The company had revenue of C$119.99 million during the quarter. Surge Energy had a negative net margin of 13.88% and a negative return on equity of 10.13%.

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.