Surge Energy (SGY) Price Target Cut to C$3.00 by Analysts at TD Securities

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.

Analyst Recommendations for Surge Energy (TSE:SGY)

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