Analysts have been quite happy with Surge Energy (TSX: SGY) stock lately, with another positive rating update this time from BMO Capital. BMO Capital’s analyst Ray Kwan reiterates their Buy rating on the shares, with a C$3 price target.
According to TipRanks.com, Kwan has 0 stars on 0-5 star ranking scale with an average return of -8.0% and a 34.8% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Crescent Point Energy, and NuVista Energy Ltd.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Surge Energy with a C$3.35 average price target, implying a 69.2% upside from current levels. In a report issued on October 25, TD Securities also reiterated a Buy rating on the stock with a C$3 price target.
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Surge Energy’s market cap is currently C$470.2M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.60.
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 Monday at C$1.98.
