Surge Energy (TSE:SGY) had its price objective lowered by equities research analysts at TD Securities from C$3.25 to C$3.00 in a research note issued on Wednesday. TD Securities’ price objective would suggest a potential upside of 62.16% from the stock’s previous close.
SGY has been the subject of several other research reports. Eight Capital lowered shares of 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. Scotiabank boosted their target price 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. Finally, CIBC boosted their target price on shares of Surge Energy from C$2.25 to C$2.50 in a research note on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$2.84.
Shares of Surge Energy (TSE:SGY) traded up C$0.08 during trading hours on Wednesday, hitting C$1.85. 1,296,919 shares of the company were exchanged, compared to its average volume of 886,549. The company has a market capitalization of $428.70, a price-to-earnings ratio of -46.00 and a beta of 0.50. Surge Energy has a fifty-two week low of C$1.58 and a fifty-two week high of C$2.91.
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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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