Surge Energy (SGY) Price Target Raised to C$3.50

Share on StockTwits

Surge Energy (TSE:SGY) had its target price lifted by analysts at Raymond James from C$3.25 to C$3.50 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 54.19% from the company’s current price.

A number of other research analysts also recently issued reports on SGY. TD Securities lifted their price objective on shares of Surge Energy from C$3.25 to C$3.50 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Surge Energy from C$3.00 to C$3.25 in a research report on Wednesday, May 16th. CIBC lifted their price objective on shares of Surge Energy from C$2.25 to C$2.75 in a research report on Wednesday, May 16th. National Bank Financial lifted their price objective on shares of Surge Energy from C$3.00 to C$3.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 16th. Finally, Canaccord Genuity lifted their price objective on shares of Surge Energy from C$3.50 to C$3.75 in a research report on Wednesday, May 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Surge Energy presently has an average rating of “Buy” and a consensus price target of C$3.23.

Shares of Surge Energy stock traded up C$0.04 on Friday, reaching C$2.27. The stock had a trading volume of 698,907 shares, compared to its average volume of 724,386. Surge Energy has a 1 year low of C$1.58 and a 1 year high of C$2.76.

In related news, Director Keith Elliott Macdonald sold 17,805 shares of Surge Energy stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of C$2.12, for a total value of C$37,746.60. Also, Director Paul Colborne bought 25,000 shares of the stock in a transaction that occurred on Thursday, July 19th. The stock was bought at an average price of C$2.47 per share, with a total value of C$61,750.00. Insiders purchased a total of 110,911 shares of company stock valued at $261,549 over the last quarter.

About Surge Energy

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

See Also: The Role of a Fiduciary and Individual Investors

Analyst Recommendations for Surge Energy (TSE:SGY)

Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply