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 report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 71.43% from the stock’s current price.

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

Surge Energy Price Performance

Shares of SGY opened at C$5.25 on Friday. The business’s 50-day moving average is C$5.87 and its two-hundred day moving average is C$6.40. The company has a market capitalization of C$526.68 million, a P/E ratio of 3.24, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy has a fifty-two week low of C$5.18 and a fifty-two week high of C$8.16. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50.

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.