In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Surge Energy (SGY). CIBC’s analyst David Popowich reiterates their Hold rating on the shares, with a C$2.50 price target.
According to TipRanks.com, Popowich ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.8% and a 34.4% success rate. Popowich covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Birchcliff Energy Ltd, and Baytex Energy Corp.
Currently, the analyst consensus on Surge Energy is a Moderate Buy with an average price target of C$3.23.
Surge Energy’s market cap is currently C$413.5M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.54.
Surge Energy, Inc. engages in the exploration, development, and production of oil and gas properties. It operates light and medium gravity crude oil properties, primarily in Alberta, Saskatchewan, and Manitoba characterized by oil in place, and crude oil reservoirs. The company was founded on January 26, 1998 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$1.71, close to its 52-week low of C$1.58.
