Surge Energy (SGY) Sets New 1-Year Low at $1.91

Surge Energy Inc (TSE:SGY) reached a new 52-week low on Tuesday . The stock traded as low as C$1.91 and last traded at C$1.95, with a volume of 975179 shares changing hands. The stock had previously closed at C$1.94.

Several equities research analysts recently weighed in on SGY shares. Scotiabank raised their price objective on Surge Energy from C$2.50 to C$2.70 and gave the company a “sector perform” rating in a report on Thursday, November 16th. National Bank Financial cut their target price on Surge Energy from C$3.25 to C$3.00 and set an “outperform” rating on the stock in a report on Friday, October 13th. CIBC lifted their target price 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 cut their target price for the stock from C$2.90 to C$2.60 in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$3.01.

In other Surge Energy news, insider Daniel Curt Brown sold 13,000 shares of Surge Energy stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of C$2.04, for a total transaction of C$26,520.00.

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About Surge Energy

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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