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.

In other Surge Energy news, insider Daniel Curt Brown sold 13,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was 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 worth $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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