Surge Energy (TSE:SGY) Reaches New 52-Week High – What’s Next?

Shares of Surge Energy Inc. (TSE:SGY) reached a new 52-week high on Monday . The stock traded as high as C$9.27 and last traded at C$9.16, with a volume of 341451 shares changing hands. The stock had previously closed at C$8.94.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$9.08.

Surge Energy Stock Up 4.9%

The firm has a market cap of C$927.13 million, a price-to-earnings ratio of 23.45, a PEG ratio of 0.59 and a beta of 0.14. The business’s 50-day moving average is C$7.93 and its 200-day moving average is C$7.30. The company has a debt-to-equity ratio of 33.64, a quick ratio of 0.40 and a current ratio of 0.78.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. The firm had revenue of C$111.40 million for the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%.

Insider Activity at Surge Energy

In related news, Director Allison Michelle Maher sold 8,999 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the sale, the director directly owned 17,612 shares in the company, valued at C$150,758.72. This represents a 33.82% decrease in their position. 1.97% of the stock is owned by insiders.

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.