Surge Energy (TSE:SGY) Upgraded to Moderate Buy at 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 Thursday, MarketBeat Ratings reports. The brokerage presently has a C$8.00 price target on the stock, up from their prior price target of C$6.00. Raymond James Financial’s price objective would suggest a potential upside of 28.62% from the stock’s previous close.

Surge Energy Trading Up 2.1%

SGY stock opened at C$6.22 on Thursday. The business has a fifty day moving average price of C$5.57 and a 200 day moving average price of C$5.54. Surge Energy has a fifty-two week low of C$4.37 and a fifty-two week high of C$7.36. The stock has a market capitalization of C$625.50 million, a price-to-earnings ratio of -7.80, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

Insider Buying and Selling

In other news, Senior Officer Murray Bye acquired 11,845 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of C$4.88 per share, for a total transaction of C$57,803.60. 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.