Surge Energy (TSE:SGY) Stock Rating Upgraded by Raymond James Financial

Surge Energy (TSE:SGY) was upgraded by Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a C$11.00 price objective on the stock, up from their previous price objective of C$9.00. Raymond James Financial’s price objective would indicate a potential upside of 17.02% from the company’s previous close.

Surge Energy Stock Performance

Shares of TSE:SGY opened at C$9.40 on Monday. The company has a market capitalization of C$929.11 million, a price-to-earnings ratio of 23.50, a PEG ratio of 0.59 and a beta of 0.14. Surge Energy has a 12 month low of C$4.37 and a 12 month high of C$9.70. The firm’s 50-day moving average is C$8.03 and its 200 day moving average is C$7.34. The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64.

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

Insider Buying and Selling

In related news, insider Murray Bye sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total transaction of C$192,800.00. Following the completion of the sale, the insider directly owned 29,506 shares of the company’s stock, valued at approximately C$284,437.84. This trade represents a 40.40% decrease in their position. Also, insider Jared Ducs sold 5,125 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of C$9.39, for a total value of C$48,123.75. Following the transaction, the insider owned 127,356 shares of the company’s stock, valued at approximately C$1,195,872.84. The trade was a 3.87% decrease in their position. In the last three months, insiders sold 34,124 shares of company stock valued at $317,955. Insiders own 1.97% of the company’s stock.

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.