National Bank Financial Increases Surge Energy (SGY) Price Target to C$3.25

Surge Energy (TSE:SGY) had its price target lifted by equities research analysts at National Bank Financial from C$3.00 to C$3.25 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 19.49% from the company’s current price.

SGY has been the subject of a number of other reports. BMO Capital Markets raised their price objective on shares of Surge Energy from C$2.25 to C$3.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. GMP Securities raised their price objective on shares of Surge Energy from C$3.00 to C$3.50 in a research report on Wednesday, May 9th. Canaccord Genuity raised their price objective on shares of Surge Energy from C$3.25 to C$3.50 in a research report on Wednesday, May 9th. Finally, TD Securities cut their price objective on shares of Surge Energy from C$3.25 to C$3.00 in a research report on Wednesday, February 14th.

Shares of Surge Energy opened at C$2.72 on Wednesday, according to MarketBeat. Surge Energy has a 52 week low of C$1.58 and a 52 week high of C$2.62.

Surge Energy (TSE:SGY) last issued its earnings results on Tuesday, May 8th. The company reported C$0.29 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.03 by C$0.26. The business had revenue of C$68.29 million during the quarter, compared to analysts’ expectations of C$64.60 million. Surge Energy had a negative net margin of 18.21% and a negative return on equity of 4.16%.

In other news, Director Paul Colborne acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The stock was purchased at an average cost of C$1.98 per share, for a total transaction of C$49,500.00. Over the last 90 days, insiders have purchased 83,061 shares of company stock valued at $165,868.

Surge Energy Company Profile

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.

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