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

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

SGY has been the topic of a number of other research reports. National Bankshares lifted their price target on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group reduced their target price on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$11.00.

Surge Energy Stock Performance

SGY stock traded up C$0.04 on Friday, reaching C$5.26. 231,689 shares of the company were exchanged, compared to its average volume of 475,069. Surge Energy has a 12 month low of C$5.18 and a 12 month high of C$8.16. The stock’s fifty day moving average price is C$5.89 and its 200 day moving average price is C$6.41. The firm has a market capitalization of C$527.68 million, a PE ratio of 3.25, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40.

Surge Energy Company Profile

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.