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

Surge Energy (TSE:SGY) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$6.00 price objective on the stock, down from their prior price objective of C$8.50. Raymond James’ target price would indicate a potential upside of 20.48% from the company’s current price.

Separately, BMO Capital Markets reduced their target price on Surge Energy from C$11.00 to C$9.00 in a research report on Friday, December 13th.

Surge Energy Trading Up 7.1 %

SGY traded up C$0.33 during trading on Wednesday, hitting C$4.98. The company’s stock had a trading volume of 938,389 shares, compared to its average volume of 617,097. Surge Energy has a twelve month low of C$4.39 and a twelve month high of C$8.14. The stock has a market cap of C$500.80 million, a PE ratio of -6.25, a PEG ratio of 0.59 and a beta of 2.54. The firm’s 50 day moving average price is C$5.55 and its 200-day moving average price is C$5.75. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

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.