In a new note to investors yesterday, an analyst has provided a rating update for Surge Energy (SGY). Analyst Jeremy Mccrea from Raymond James remains bullish on the stock and has a C$2.50 price target.
According to TipRanks.com, Mccrea ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.7% and a 21.9% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Surge Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$2.96.
Surge Energy’s market cap is currently C$350.4M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.46.
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$1.47, close to its 52-week low of C$1.39.
