Surge Energy (TSE:SGY) Stock Price Down 4.7% – Should You Sell?

Surge Energy Inc. (TSE:SGY) shares were down 4.7% on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.43. Approximately 211,730 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 607,132 shares. The stock had previously closed at C$4.65.

Analysts Set New Price Targets

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

Surge Energy Stock Down 4.3 %

The company has a market capitalization of C$447.51 million, a PE ratio of -5.58, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company’s fifty day moving average is C$5.55 and its 200-day moving average is C$5.75. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66.

Surge Energy Announces Dividend

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 paid a $0.0433 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.68%. Surge Energy’s dividend payout ratio (DPR) is presently -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.