Surge Energy (TSE:SGY) Trading Down 11.2% – Should You Sell?

Surge Energy Inc. (TSE:SGY) shares dropped 11.2% during trading on Friday . The stock traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares were traded 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.

Wall Street Analyst Weigh In

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

Surge Energy Stock Up 1.8 %

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 business has a 50-day moving average price of C$5.50 and a 200-day moving average price of C$5.72. The firm has a market capitalization 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.

Surge Energy Dividend Announcement

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