Surge Energy Receives a Buy from Canaccord Genuity


The Materials sector company, Surge Energy (TSX: SGY), has received a rating update from a Wall Street analyst yesterday. Analyst Anthony Petrucci from Canaccord Genuity rated Surge Energy (TSX: SGY) a Buy, setting a C$3.75 price target.

Petrucci has an average return of 7.3% when recommending Surge Energy.

According to TipRanks.com, Petrucci is ranked #3524 out of 4800 analysts.

Surge Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$2.92.

Surge Energy’s market cap is currently C$592.3M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.78.

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 Tuesday at C$2.56, close to its 52-week high of C$2.62.