Surge Energy (OTCMKTS:ZPTAF) Trading Down 3.3% – Should You Sell?

Surge Energy Inc. (OTCMKTS:ZPTAF)’s share price was down 3.3% on Tuesday . The company traded as low as $4.5620 and last traded at $4.5845. Approximately 10,803 shares were traded during trading, a decline of 82% from the average daily volume of 59,469 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZPTAF shares. Roth Capital started coverage on shares of Surge Energy in a research report on Monday, July 14th. They set a “buy” rating on the stock. National Bankshares restated an “outperform” rating on shares of Surge Energy in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Surge Energy Stock Down 3.3%

The firm has a 50 day moving average price of $4.97 and a 200-day moving average price of $4.63.

Surge Energy Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.0313 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a dividend yield of 748.0%. Surge Energy’s dividend payout ratio is currently 104.97%.

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.