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

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

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Surge Energy in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Surge Energy Stock Performance

The company has a 50-day moving average of $6.96 and a 200-day moving average 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.