Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. CIBC’s analyst David Popowich reiterates their Hold rating on the shares of Surge Energy (TSX: SGY), with a C$2.75 price target.
According to TipRanks.com, Popowich is ranked #1828 out of 4877 analysts.
Currently, the analyst consensus on Surge Energy is a Moderate Buy with an average price target of C$3.25.
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 Wednesday at C$2.35.
