Surge Energy Inc (SGY) Receives Average Recommendation of “Buy” from Analysts
Shares of Surge Energy Inc (TSE:SGY) have received a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$3.01.
SGY has been the topic of several analyst reports. CIBC lifted their target price on Surge Energy from C$2.25 to C$2.50 in a research note on Thursday, November 16th. Eight Capital downgraded Surge Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from C$2.90 to C$2.60 in a research note on Friday, October 27th. National Bank Financial lowered their target price on Surge Energy from C$3.25 to C$3.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Finally, Scotiabank lifted their target price on 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.
In other Surge Energy news, insider Daniel Curt Brown sold 13,000 shares of Surge Energy stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of C$2.04, for a total value of C$26,520.00.
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Surge Energy Company Profile
Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds working interests in the Valhalla/Wembley and Nipisi properties located in northwestern Alberta; the Windfall property located in western Alberta; and the Nevis property located to the east of Red Deer, Alberta covering an area of approximately 122,113 net developed acres.
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