Raymond James Financial Downgrades Surge Energy (TSE:SGY) to Hold

Surge Energy (TSE:SGY) was downgraded by investment analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat.com reports.

Separately, ATB Capital lifted their target price on shares of Surge Energy from C$8.25 to C$9.75 in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Surge Energy has an average rating of “Buy” and a consensus price target of C$9.06.

Surge Energy Stock Down 3.1%

SGY opened at C$7.15 on Tuesday. The business has a 50 day moving average price of C$7.05 and a two-hundred day moving average price of C$6.79. Surge Energy has a 52 week low of C$4.37 and a 52 week high of C$7.85. The company has a market cap of C$707.48 million, a PE ratio of 15.89, a P/E/G ratio of 0.59 and a beta of 0.30. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share (EPS) for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.The business had revenue of C$119.99 million for the quarter.

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.