Surge Energy (TSE:SGY – Get Free Report) had its price target upped by ATB Cormark Capital Markets from C$12.00 to C$13.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential upside of 29.74% from the company’s current price.
SGY has been the topic of several other research reports. National Bank Financial upped their target price on Surge Energy from C$12.75 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday. Acumen Capital upped their target price on Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday. Raymond James Financial upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Canaccord Genuity Group upped their target price on Surge Energy from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat.com, Surge Energy currently has an average rating of “Buy” and a consensus target price of C$12.46.
Read Our Latest Analysis on SGY
Surge Energy Price Performance
Surge Energy (TSE:SGY – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C($0.25) earnings per share for the quarter. The firm had revenue of C$75.00 million during the quarter. Surge Energy had a net margin of 1.39% and a return on equity of 1.01%.
Insider Buying and Selling
In related news, Director Allison Michelle Maher sold 8,999 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the sale, the director owned 17,612 shares of the company’s stock, valued at C$150,758.72. This trade represents a 33.82% decrease in their ownership of the stock. Also, insider Murray Bye sold 20,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$9.64, for a total value of C$192,800.00. Following the sale, the insider directly owned 29,506 shares in the company, valued at approximately C$284,437.84. The trade was a 40.40% decrease in their position. Insiders sold 59,124 shares of company stock worth $569,205 in the last ninety days. 1.97% of the stock is currently owned by insiders.
About Surge Energy
Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.
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