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

Surge Energy (TSE:SGY) was upgraded by equities research analysts at Raymond James to a “moderate buy” rating in a report released on Thursday, Zacks.com reports.

Several other research firms have also weighed in on SGY. Acumen Capital boosted their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. BMO Capital Markets increased their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. National Bankshares upped their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Finally, Cormark upgraded Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Surge Energy has an average rating of “Buy” and a consensus price target of C$11.93.

Surge Energy Price Performance

TSE SGY opened at C$6.06 on Thursday. The business has a fifty day moving average price of C$6.32 and a 200 day moving average price of C$6.87. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The company has a market cap of C$607.94 million, a P/E ratio of 3.74, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy has a one year low of C$5.51 and a one year high of C$9.77.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The company had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.