Surge Energy (TSE:SGY) Trading Down 3.2% – What’s Next?

Surge Energy Inc. (TSE:SGY)’s share price traded down 3.2% on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.50. 384,735 shares changed hands during trading, a decline of 37% from the average session volume of 610,728 shares. The stock had previously closed at C$4.65.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut their price target on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th.

Surge Energy Stock Down 3.9 %

The stock has a market capitalization of C$449.52 million, a price-to-earnings ratio of -5.61, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The firm’s fifty day moving average is C$5.55 and its 200-day moving average is C$5.75.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.0433 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 11.62%. 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.