Surge Energy (TSE:SGY) had its price target lowered by equities research analysts at TD Securities from C$3.25 to C$3.00 in a report released on Wednesday. TD Securities’ price target points to a potential upside of 63.04% from the stock’s previous close.
SGY has been the subject of a number of other reports. Eight Capital lowered shares of Surge Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from C$2.90 to C$2.60 in a research note on Friday, October 27th. CIBC upped their price objective on shares of Surge Energy from C$2.25 to C$2.50 in a research note on Thursday, November 16th. Finally, Scotiabank upped their price objective on shares of Surge Energy from C$2.50 to C$2.70 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$2.84.
Shares of Surge Energy (TSE:SGY) traded up C$0.07 during midday trading on Wednesday, reaching C$1.84. 1,277,919 shares of the company’s stock were exchanged, compared to its average volume of 885,924. Surge Energy has a 52 week low of C$1.58 and a 52 week high of C$2.91. The firm has a market cap of $428.70, a P/E ratio of -45.75 and a beta of 0.50.
In other news, insider Daniel Curt Brown sold 13,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of C$2.04, for a total value of C$26,520.00. Insiders have acquired 27,086 shares of company stock valued at $56,305 over the last ninety days.
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Surge Energy Company Profile
Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects.
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