Surge Energy (TSE:SGY) Sets New 12-Month High at $4.44

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$4.44 and last traded at C$4.42, with a volume of 629875 shares traded. The stock had previously closed at C$4.02.

A number of research analysts have recently issued reports on the stock. National Bank Financial lifted their price objective on shares of Surge Energy to C$1.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 17th. National Bankshares lifted their price objective on shares of Surge Energy from C$0.90 to C$1.00 in a research report on Thursday, June 17th. Finally, Raymond James reiterated an “outperform” rating and issued a C$1.25 target price on shares of Surge Energy in a research note on Tuesday, August 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Surge Energy currently has an average rating of “Hold” and an average target price of C$1.06.

The company has a debt-to-equity ratio of 123.82, a quick ratio of 0.11 and a current ratio of 0.12. The firm’s 50 day simple moving average is C$1.83 and its 200 day simple moving average is C$1.04. The firm has a market capitalization of C$320.05 million and a price-to-earnings ratio of 0.77.

Surge Energy (TSE:SGY) last announced its quarterly earnings data on Thursday, July 29th. The company reported C($0.02) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.01). The business had revenue of C$80.88 million for the quarter, compared to analyst estimates of C$85.00 million. As a group, sell-side analysts forecast that Surge Energy Inc. will post 1.27 earnings per share for the current year.

In other Surge Energy news, Director Robert Allen Leach bought 124,852 shares of the company’s stock in a transaction dated Thursday, September 2nd. The stock was acquired at an average price of C$4.46 per share, with a total value of C$557,039.68. Following the completion of the acquisition, the director now directly owns 364,528 shares of the company’s stock, valued at C$1,626,378.12.

About Surge Energy (TSE:SGY)

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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