Surge Energy (TSE:SGY) Trading Down 11.2% – What’s Next?

Surge Energy Inc. (TSE:SGY) dropped 11.2% during mid-day trading on Thursday . The company traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares were traded during trading, an increase of 37% from the average daily volume of 630,749 shares. The stock had previously closed at C$5.07.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Raymond James lowered Surge Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$8.50 to C$6.00 in a research report on Wednesday.

Surge Energy Stock Down 11.2 %

The company’s fifty day simple moving average is C$5.54 and its 200-day simple moving average is C$5.73. The firm has a market capitalization of C$452.53 million, a PE ratio of -5.64, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 11.55%. The ex-dividend date is Monday, March 31st. Surge Energy’s dividend payout ratio (DPR) is presently -65.21%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.