Surge Energy (TSE:SGY) Trading Down 11.2% – Should You Sell?

Surge Energy Inc. (TSE:SGY) traded down 11.2% during mid-day trading on Thursday . The company traded as low as C$4.44 and last traded at C$4.50. 865,525 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 630,749 shares. The stock had previously closed at C$5.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SGY shares. Raymond James downgraded shares of Surge Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$8.50 to C$6.00 in a research note on Wednesday. BMO Capital Markets dropped their price target on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th.

Surge Energy Price Performance

The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The stock’s 50 day moving average price is C$5.54 and its two-hundred day moving average price is C$5.73. The stock has a market cap of C$452.53 million, a price-to-earnings ratio of -5.64, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Surge Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.0433 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.55%. Surge Energy’s payout ratio is currently -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.