Surge Energy (TSE:SGY) Stock Price Down 11.2% – Time to Sell?

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

Analysts Set New Price Targets

Several research firms have issued reports on SGY. BMO Capital Markets decreased their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th. Raymond James lowered shares of Surge Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$8.50 to C$6.00 in a research note on Wednesday.

Surge Energy Price Performance

The stock has a fifty day moving average of C$5.50 and a 200-day moving average of C$5.72. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The stock has a market capitalization of C$460.58 million, a price-to-earnings ratio of -5.74, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.0433 dividend. This represents a $0.52 annualized dividend and a dividend yield of 11.34%. The ex-dividend date is Monday, March 31st. Surge Energy’s payout ratio is currently -65.21%.

About Surge Energy

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.