Surge Energy (SGY) Price Target Cut to C$3.00 by Analysts at TD Securities
Surge Energy (TSE:SGY) had its target price cut by equities research analysts at TD Securities from C$3.25 to C$3.00 in a research report issued on Wednesday. TD Securities’ price target would suggest a potential upside of 63.04% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Scotiabank increased their price objective on Surge Energy from C$2.50 to C$2.70 and gave the stock a “sector perform” rating in a report on Thursday, November 16th. CIBC increased their price objective on Surge Energy from C$2.25 to C$2.50 in a report on Thursday, November 16th. Finally, Eight Capital downgraded Surge Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$2.90 to C$2.60 in a report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Surge Energy has an average rating of “Buy” and an average target price of C$2.84.
Surge Energy (TSE:SGY) traded up C$0.07 during trading hours on Wednesday, reaching C$1.84. The company had a trading volume of 1,277,919 shares, compared to its average volume of 885,924. Surge Energy has a 12-month low of C$1.58 and a 12-month high of C$2.91. The firm has a market capitalization of $428.70, a P/E ratio of -45.75 and a beta of 0.50.
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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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