Surge Energy (TSE:SGY) Reaches New 12-Month High – Time to Buy?

Surge Energy Inc. (TSE:SGY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$8.16 and last traded at C$8.00, with a volume of 926314 shares traded. The stock had previously closed at C$8.04.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. ATB Cormark Capital Markets raised 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 Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$9.08.

Surge Energy Trading Up 1.3%

The company has a 50 day simple moving average of C$7.18 and a two-hundred day simple moving average of C$7.07. 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 firm has a market cap of C$782.68 million, a PE ratio of 17.58, a P/E/G ratio of 0.59 and a beta of 0.16.

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.