Surge Energy (TSE:SGY) Shares Down 11.4% – Time to Sell?

Surge Energy Inc. (TSE:SGY) shares fell 11.4% during trading on Thursday . The stock traded as low as C$4.46 and last traded at C$4.49. 622,515 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 626,758 shares. The stock had previously closed at C$5.07.

Analyst Ratings Changes

SGY has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Raymond James cut shares of Surge Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from C$8.50 to C$6.00 in a research note on Wednesday.

Surge Energy Stock Performance

The stock has a market cap of C$460.58 million, a P/E ratio of -5.74, 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 company has a fifty day moving average of C$5.50 and a 200 day moving average of C$5.72.

Surge Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 11.34%. Surge Energy’s dividend payout ratio (DPR) is -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.