Surge Energy (OTCMKTS:ZPTAF) Trading Up 0.7% – Still a Buy?

Surge Energy Inc. (OTCMKTS:ZPTAF)’s share price rose 0.7% during mid-day trading on Monday . The stock traded as high as $4.99 and last traded at $4.97. Approximately 27,995 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 60,706 shares. The stock had previously closed at $4.93.

Analyst Upgrades and Downgrades

ZPTAF has been the topic of several recent research reports. National Bankshares restated an “outperform” rating on shares of Surge Energy in a research report on Wednesday, July 30th. Roth Capital initiated coverage on shares of Surge Energy in a research report on Monday, July 14th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.00.

Surge Energy Price Performance

The business’s 50 day moving average is $5.09 and its 200 day moving average is $4.50.

Surge Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.0313 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a yield of 748.0%. Surge Energy’s dividend payout ratio (DPR) is currently 104.97%.

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.