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

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

Analyst Upgrades and Downgrades

Separately, Raymond James lowered shares of Surge Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$8.50 to C$6.00 in a research note on Wednesday.

Surge Energy Trading Up 1.8 %

The firm has a fifty day moving average of C$5.50 and a two-hundred day moving average of C$5.72. The company has a market cap of C$460.58 million, a PE ratio of -5.74, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Surge Energy Announces Dividend

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