TD Securities Trims Surge Energy (SGY) Target Price to C$3.00

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.

In other Surge Energy news, insider Daniel Curt Brown sold 13,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$2.04, for a total transaction of C$26,520.00. In the last quarter, insiders have acquired 27,086 shares of company stock valued at $56,305.

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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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