Surge Energy (TSE:SGY) PT Set at C$8.50 by Roth Capital

Surge Energy (TSE:SGY) has been assigned a C$8.50 price objective by equities researchers at Roth Capital in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price objective points to a potential upside of 27.44% from the company’s current price.

Separately, Raymond James Financial raised shares of Surge Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$6.00 to C$8.00 in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus price target of C$10.00.

Surge Energy Stock Performance

Shares of SGY stock opened at C$6.67 on Monday. The stock has a 50 day simple moving average of C$5.83 and a 200-day simple moving average of C$5.61. Surge Energy has a 12-month low of C$4.37 and a 12-month high of C$7.29. The company has a market cap of C$670.76 million, a price-to-earnings ratio of -8.36, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Insider Buying and Selling

In other Surge Energy news, Senior Officer Murray Bye bought 11,845 shares of the business’s stock in a transaction on Friday, May 9th. The stock was bought at an average price of C$4.88 per share, for a total transaction of C$57,803.60. 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.