RBC Capital Sticks to Its Hold Rating for Surge Energy

By Jason Carr

Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. Analyst Shailender Randhawa from RBC Capital rated Surge Energy (TSX: SGY) a Hold, setting a C$2.75 price target.

According to TipRanks.com, Randhawa is ranked #2478 out of 4771 analysts.

Surge Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$2.75.

Based on Surge Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$61.15 million and GAAP net loss of C$13.08 million. In comparison, last year the company earned revenue of C$47.41 million and had a net profit of C$7.67 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 Thursday at C$2.09.