Surge Energy (TSE:SGY) Price Target Raised to C$8.25 at ATB Capital

Key Points

• ATB Capital has raised the price target for Surge Energy from C$7.50 to C$8.25, reflecting a potential upside of 7.84% from its current price.
• Other analysts, including Raymond James Financial, have also upgraded their ratings on the stock, with a consensus rating of "Buy" and an average price target of C$9.89.
• The company's shares are currently trading at C$7.65, experiencing a 3.4% increase during the recent trading session, with a market capitalization of C$769.31 million.

Surge Energy (TSE:SGY - Get Free Report) had its target price increased by stock analysts at ATB Capital from C$7.50 to C$8.25 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Capital's price target indicates a potential upside of 7.84% from the stock's current price.

A number of other analysts have also commented on SGY. 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 research report on Thursday, July 3rd. Roth Capital set a C$8.50 price target on Surge Energy and gave the company a "buy" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Surge Energy presently has a consensus rating of "Buy" and an average price target of C$9.89.

Surge Energy Stock Up 3.4%

Shares of TSE:SGY traded up C$0.25 during mid-day trading on Tuesday, reaching C$7.65. 923,235 shares of the stock were exchanged, compared to its average volume of 567,691. The stock's 50 day simple moving average is C$6.16 and its 200-day simple moving average is C$5.67. Surge Energy has a one year low of C$4.37 and a one year high of C$7.84. The company has a market cap of C$769.31 million, a P/E ratio of -9.59, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Insider Activity

In related news, Senior Officer Murray Bye bought 11,845 shares of Surge Energy stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of C$4.88 per share, with a total value of C$57,803.60. 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.

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