The stock of Surge Energy Inc (TSE:SGY) is a huge mover today! About 822,532 shares traded hands. Surge Energy Inc (TSE:SGY) has risen 11.88% since March 10, 2016 and is uptrending. It has outperformed by 6.27% the S&P500.
The move comes after 9 months negative chart setup for the $642.32 million company. It was reported on Oct, 17 by Barchart.com. We have $2.69 PT which if reached, will make TSE:SGY worth $38.54M less.
Surge Energy Inc (TSE:SGY) Ratings Coverage
Out of 9 analysts covering Surge Energy Inc (TSE:SGY), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $4.25 is the highest target while $2 is the lowest. The $2.89 average target is 1.05% above today’s ($2.86) stock price. Surge Energy Inc has been the topic of 19 analyst reports since November 10, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by Scotia Capital given on Friday, July 22. The stock of Surge Energy Inc (TSE:SGY) earned “Speculative Buy” rating by Canaccord Genuity on Tuesday, January 19. The firm has “Buy” rating given on Tuesday, January 12 by Mackie. As per Friday, July 22, the company rating was maintained by TD Securities. The rating was initiated by IBC on Wednesday, June 15 with “Underperform”. RBC Capital Markets maintained the shares of SGY in a report on Thursday, December 10 with “Sector Perform” rating. RBC Capital Markets maintained the shares of SGY in a report on Wednesday, September 7 with “Sector Perform” rating.
More news for Surge Energy Inc (TSE:SGY) were recently published by: Business.Financialpost.com, which released: “Surge Energy Inc upgraded as active drilling pays off” on September 28, 2016. Seekingalpha.com‘s article titled: “Surge Energy Is Back On Track” and published on July 25, 2016 is yet another important article.
Surge Energy Inc. is a Canada-based gas and oil exploration, development and production company. The company has a market cap of $642.32 million. 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. It currently has negative earnings. The properties in Northern Alberta include Valhalla/Wembley, Nipisi, Windfall and Nevis.
SGY Company Profile
Stone Energy Corporation, incorporated on March 15, 1993, is an independent oil and natural gas company. The Firm is engaged in the acquisition, exploration, exploitation, development and operation of gas and oil properties. The Firm operates in the Gulf of Mexico (GOM) basin. The Firm has leveraged its activities in the GOM conventional shelf and has its reserve base in the prolific basins of the GOM deep water, Gulf Coast deep gas, and the Marcellus and Utica shales in Appalachia. The Company’s estimated proved oil and natural gas reserves are approximately 60 million barrels of oil equivalents (MMBoe) or 340 billion cubic feet equivalent (Bcfe). Approximately 95 MMBoe or 570 Bcfe of its estimated proved reserves are revised downward. The Company’s subsidiaries are Stone Energy Offshore, L.L.C. (Stone Offshore), Stone Energy Holding, L.L.C., Stone Energy Canada, U.L.C, SEO A LLC and SEO B LLC.
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