TD Securities Reaffirms “Buy” Rating for Surge Energy Inc (SGY)

Surge Energy Inc (TSE:SGY)‘s stock had its “buy” rating restated by research analysts at TD Securities in a research note issued on Thursday. They currently have a C$3.75 target price on the stock. TD Securities’ price target would indicate a potential upside of 39.93% from the stock’s previous close.

A number of other analysts have also weighed in on SGY. BMO Capital Markets upped 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 note on Thursday. Scotiabank upped their price objective on shares of Surge Energy from C$3.15 to C$3.25 and gave the stock a “sector perform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$3.38.

Analyst Recommendations for Surge Energy (TSE:SGY)

Surge Energy (TSE:SGY) traded up 1.13% during midday trading on Thursday, hitting $2.68. 831,668 shares of the stock traded hands. The firm’s 50-day moving average is $2.59 and its 200-day moving average is $2.83. The company’s market cap is $605.05 million. Surge Energy has a 52-week low of $2.05 and a 52-week high of $3.45.

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In other news, Director Paul Colborne purchased 10,000 shares of the firm’s stock in a transaction on 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. Over the last three months, insiders have acquired 66,000 shares of company stock valued at $175,250.

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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