Surge Energy (TSE:SGY) Reaches New 52-Week High – Should You Buy?

Surge Energy Inc. (TSE:SGY)’s share price hit a new 52-week high 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.

Analysts Set New Price Targets

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

Surge Energy Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The company has a market cap 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 business’s 50 day simple moving average is C$7.04 and its 200 day simple moving average is C$7.04.

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.