Scotiabank restated their sector perform rating on shares of Surge Energy Inc (TSE:SGY) in a report issued on Thursday. The firm currently has a C$3.25 price target on the stock.

SGY has been the subject of a number of other reports. TD Securities reaffirmed a buy rating and set a C$4.00 price objective on shares of Surge Energy in a research report on Monday, February 27th. BMO Capital Markets increased their price objective on Surge Energy from C$3.50 to C$3.75 in a research report on Wednesday, December 21st. National Bank Financial increased their price objective on Surge Energy from C$3.50 to C$3.75 and gave the stock an outperform rating in a research report on Wednesday, December 14th. CIBC increased their price objective on Surge Energy from C$3.00 to C$3.50 in a research report on Wednesday, December 14th. Finally, Royal Bank of Canada increased their price objective on Surge Energy from C$3.00 to C$3.25 and gave the stock a sector perform rating in a research report on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of C$3.47.

Analyst Recommendations for Surge Energy (TSE:SGY)

Shares of Surge Energy (TSE:SGY) opened at 2.46 on Thursday. The stock’s market cap is $555.35 million. The firm’s 50-day moving average price is $2.67 and its 200 day moving average price is $2.82. Surge Energy has a one year low of $1.92 and a one year high of $3.45.

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In other Surge Energy news, Director Paul Colborne purchased 10,000 shares of Surge Energy stock in a transaction dated Friday, February 24th. The stock was acquired at an average cost of C$2.71 per share, with a total value of C$27,100.00. Insiders bought a total of 46,000 shares of company stock valued at $125,350 over the last three months.

Surge Energy Company Profile

Surge Energy Inc is a Canada-based oil and gas exploration, development and production company. The Company’s principal oil and natural gas producing properties are located in Alberta and Saskatchewan, and focused on over three core areas: Western Alberta, Southeast Alberta and Southwest Saskatchewan.

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