Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (CAD) | Target 1 (CAD) | Target 2 (CAD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 25 Jun, 24 | SGY | Speculative Buy | CAD 6.787 | CAD 7.5 | CAD 8.2 | 29 days | 20.8% |
Data Powered by EOD Historical Data (“EODHD”).
Surge Energy Inc. explores for, develops, and produces oil and gas in western Canada. The company's principal properties include Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; the Southeast Saskatchewan properties are located in the Southeast corner of the Province; the Greater Sawn Lake assets located in Northern Alberta; the Valhalla/Wembley property located in northwestern Alberta; and the Shaunavon properties located to the southwest of Swift Current, Saskatchewan. It holds an average working interest of approximately 81% in approximately 90,619 gross developed acres and approximately 97% in approximately 59,129 gross undeveloped acres in the Sparky area; an average working interest of approximately 86% in approximately 61,643 gross developed acres and approximately 86% in 44,960 gross undeveloped acres in the Southeast Saskatchewan area; an average working interest of approximately 79% in approximately 142,459 gross developed acres and approximately 76% in approximately 72,681 gross undeveloped acres in Greater Sawn area; an average working interest of approximately 70% in approximately 23,560 gross developed acres and approximately 73% in approximately 10,520 gross undeveloped acres in the Valhalla area; and an average working interest of approximately 98% in approximately 24,086 gross developed acres and approximately 100% in 8,383 gross undeveloped acres in the Shaunavon area. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 6.787 | 6.0 | 7.5 | 8.2 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Energy Industry: Oil & Gas E&P
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SGY Surge Energy Inc. |
-0.07 1.09% | 6.33 | 3.83 | 8.73 | 1.11 | 0.71 | 1.37 | 3.06 |
| CNQ Canadian Natural Resources Ltd |
0.22 0.44% | 49.83 | 13.07 | 12.21 | 2.55 | 2.32 | 2.53 | 6.23 |
| TOU Tourmaline Oil Corp. |
-0.94 1.45% | 63.69 | 19.76 | 8.47 | 3.71 | 1.50 | 2.85 | 7.84 |
| OVV Ovintiv Inc |
0.54 0.95% | 57.65 | 4.08 | 5.32 | 1.36 | 1.16 | 2.25 | 5.56 |
| ARX ARC Resources Ltd. |
-0.04 0.16% | 24.49 | 7.00 | 8.55 | 1.92 | 1.74 | 2.00 | 3.74 |
Data Powered by EOD Historical Data (“EODHD”).
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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