Surge Energy (OTCMKTS:ZPTAF) Trading 1.4% Higher – Here’s Why

Surge Energy Inc. (OTCMKTS:ZPTAF)’s share price traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $6.00 and last traded at $5.74. 51,887 shares traded hands during trading, a decline of 9% from the average session volume of 56,839 shares. The stock had previously closed at $5.66.

Analyst Ratings Changes

Separately, Raymond James Financial cut shares of Surge Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Surge Energy Price Performance

The business’s 50-day moving average price is $5.15 and its 200-day moving average price is $5.09.

Surge Energy Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.0309 per share. This represents a yield of 717.0%. The ex-dividend date of this dividend was Friday, November 28th. Surge Energy’s dividend payout ratio is currently 104.97%.

Surge Energy Company Profile

Surge Energy Inc is a Calgary-based oil and natural gas exploration and production company trading on the OTC Markets under the ticker ZPTAF. The company focuses on the development of light crude oil, natural gas liquids and natural gas assets across western Canada. Surge’s operations emphasize efficient capital deployment and cost control to optimize production from its resource plays.

Surge Energy holds acreage in key western Canadian resource basins, including the Montney and Duvernay formations in Alberta, the Viking play in Saskatchewan and the Mannville group in Alberta.