Surge Energy (TSX: SGY), the Materials sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. Analyst Shailender Randhawa from RBC Capital rated Surge Energy (TSX: SGY) a Hold, setting a C$3 price target.
According to TipRanks.com, Randhawa is ranked #3797 out of 4879 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Surge Energy with a C$3.28 average price target, which is a 28.6% upside from current levels. In a report issued on September 6, Scotiabank also reiterated a Hold rating on the stock with a C$3.20 price target.
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Based on Surge Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$3.02 million. In comparison, last year the company had a net profit of C$6.93 million.
Surge Energy, Inc. is an oil and gas exploration, development, and production company. 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 Friday at C$2.55.
