Surge Energy Inc (SGY) Receives Consensus Recommendation of “Buy” from Brokerages
Surge Energy Inc (TSE:SGY) has received an average rating of “Buy” from the nine ratings firms that are covering the firm. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$3.47.
Several research analysts recently weighed in on the company. Scotiabank reaffirmed a “sector perform” rating and issued a C$3.25 target price on shares of Surge Energy in a research report on Thursday, March 16th. CIBC raised their price objective on Surge Energy from C$3.00 to C$3.50 in a research report on Wednesday, December 14th. Royal Bank of Canada raised their price objective on Surge Energy from C$3.00 to C$3.25 and gave the company a “sector perform” rating in a research report on Wednesday, December 14th. TD Securities reissued a “buy” rating and issued a C$4.00 price objective on shares of Surge Energy in a research report on Thursday, March 16th. Finally, National Bank Financial raised their price objective on Surge Energy from C$3.50 to C$3.75 and gave the company an “outperform” rating in a research report on Wednesday, December 14th.
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Shares of Surge Energy (TSE:SGY) opened at 2.46 on Tuesday. The firm’s market capitalization is $555.35 million. The stock has a 50 day moving average price of $2.67 and a 200-day moving average price of $2.82. Surge Energy has a 52 week low of $1.92 and a 52 week high of $3.45.
In other Surge Energy news, Director Paul Colborne bought 10,000 shares of the stock in a transaction dated Thursday, February 2nd. The stock was bought at an average cost of C$2.82 per share, for a total transaction of C$28,200.00. Insiders have bought 46,000 shares of company stock valued at $125,350 over the last 90 days.
About Surge Energy
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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