BMO Capital Markets Lowers Surge Energy (TSE:SGY) Price Target to C$9.00

Surge Energy (TSE:SGY) had its price objective cut by research analysts at BMO Capital Markets from C$11.00 to C$9.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 71.10% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group decreased their price objective on Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Raymond James raised Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. National Bankshares upped their price target on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Finally, Cormark raised Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$11.00.

Surge Energy Stock Up 0.8 %

Shares of SGY traded up C$0.04 on Friday, hitting C$5.26. The company’s stock had a trading volume of 231,689 shares, compared to its average volume of 475,069. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The firm’s fifty day moving average price is C$5.89 and its 200-day moving average price is C$6.41. Surge Energy has a fifty-two week low of C$5.18 and a fifty-two week high of C$8.16. The firm has a market capitalization of C$527.68 million, a price-to-earnings ratio of 3.25, a P/E/G ratio of 0.59 and a beta of 2.54.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.