Surge Energy (OTCMKTS:ZPTAF) Shares Up 2.8% – Still a Buy?

Shares of Surge Energy Inc. (OTCMKTS:ZPTAF) shot up 2.8% on Wednesday . The company traded as high as $7.41 and last traded at $7.33. 13,313 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 50,876 shares. The stock had previously closed at $7.1320.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Surge Energy in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Surge Energy currently has an average rating of “Moderate Buy”.

Surge Energy Stock Up 2.8%

The business has a fifty day moving average price of $6.96 and a two-hundred day moving average price of $5.99.

Surge Energy Company Profile

Surge Energy Inc is a Calgary-based oil and natural gas exploration and production company trading on the OTC Markets under the ticker ZPTAF. The company focuses on the development of light crude oil, natural gas liquids and natural gas assets across western Canada. Surge’s operations emphasize efficient capital deployment and cost control to optimize production from its resource plays.

Surge Energy holds acreage in key western Canadian resource basins, including the Montney and Duvernay formations in Alberta, the Viking play in Saskatchewan and the Mannville group in Alberta.