Clarus Securities Brokers Boost Earnings Estimates for Surge Energy Inc (SGY)

Surge Energy Inc (TSE:SGY) – Stock analysts at Clarus Securities increased their FY2017 earnings per share estimates for shares of Surge Energy in a report issued on Thursday. Clarus Securities analyst R. Pare now anticipates that the firm will post earnings per share of ($0.02) for the year, up from their prior estimate of ($0.05). Clarus Securities currently has a “Hold” rating on the stock.

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Earnings History and Estimates for Surge Energy (TSE:SGY)

SGY has been the topic of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Surge Energy from C$3.50 to C$3.75 in a research report on Wednesday, December 21st. National Bank Financial boosted their price objective on shares of Surge Energy from C$3.50 to C$3.75 and gave the stock an “outperform” rating in a research report on Wednesday, December 14th. TD Securities reissued a “buy” rating and issued a C$3.50 price objective on shares of Surge Energy in a research report on Wednesday, December 14th. CIBC boosted their price objective on shares of Surge Energy from C$2.75 to C$3.00 in a research report on Wednesday, October 19th. Finally, Scotiabank reissued a “sector perform” rating and issued a C$3.00 price objective on shares of Surge Energy in a research report on Thursday, November 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Surge Energy has an average rating of “Hold” and a consensus target price of C$3.30.

Surge Energy (TSE:SGY) traded up 1.44% on Monday, reaching $2.81. 201,152 shares of the company’s stock traded hands. The firm’s 50-day moving average is $3.07 and its 200 day moving average is $2.77. The stock’s market capitalization is $634.37 million. Surge Energy has a 52-week low of $1.92 and a 52-week high of $3.45.

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In related news, Director Paul Colborne acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were purchased at an average cost of C$2.82 per share, for a total transaction of C$28,200.00. Over the last quarter, insiders acquired 22,000 shares of company stock worth $60,870.

Surge Energy Company Profile

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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