Surge Energy (TSE:SGY) Rating Increased to Outperform at Raymond James Financial

Raymond James Financial upgraded shares of Surge Energy (TSE:SGY) from a market perform rating to an outperform rating in a report published on Monday,BayStreet.CA reports. The firm currently has C$11.00 price target on the stock, up from their prior price target of C$9.00.

Surge Energy Price Performance

Shares of SGY opened at C$9.38 on Monday. The company has a market cap of C$927.13 million, a P/E ratio of 23.45, a PEG ratio of 0.59 and a beta of 0.14. Surge Energy has a fifty-two week low of C$4.37 and a fifty-two week high of C$9.48. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64. The firm’s 50 day moving average price is C$7.98 and its 200 day moving average price is C$7.32.

Surge Energy (TSE:SGY) last released its 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 during the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.

Insider Buying and Selling

In other Surge Energy news, insider Jared Ducs sold 5,125 shares of the stock in a transaction that occurred 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 directly owned 127,356 shares in the company, valued at C$1,195,872.84. This represents a 3.87% decrease in their ownership of the stock. Also, Director Allison Michelle Maher sold 8,999 shares of Surge Energy stock in a transaction 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 owned 17,612 shares in the company, valued at C$150,758.72. This represents a 33.82% decrease in their ownership of the stock. Corporate insiders own 1.97% of the company’s stock.

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.