In a new note to investors today, an analyst has provided a rating update for Surge Energy (SGY). Analyst Jeremy Mccrea from Raymond James rated Surge Energy (SGY) a Buy, setting a C$2 price target.
According to TipRanks.com, Mccrea has 0 stars on 0-5 star ranking scale with an average return of -7.1% and a 34.4% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Tamarack Valley Energy Ltd, and Freehold Royalties Ltd.
Currently, the analyst consensus on Surge Energy is a Strong Buy with an average price target of C$2.05.
Based on Surge Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$7.98 million. In comparison, last year the company had a GAAP net loss of C$1.11 million.
Surge Energy, Inc. engages in the exploration, development, and production of oil and gas properties. Its properties include Greater Sawn, Valhalla, Sparky, Shaunavon, and Minors that are located in Alberta and Saskatchewan. The company was founded on January 26, 1998 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$1.39, close to its 52-week low of C$1.22.
