Surge Energy (TSE:SGY) Stock Price Down 11.2% – What’s Next?

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

Analyst Ratings Changes

Several analysts have recently weighed in on SGY shares. BMO Capital Markets reduced their price target on Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th. Raymond James cut shares of Surge Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$8.50 to C$6.00 in a research report on Wednesday.

Surge Energy Stock Performance

The stock has a 50 day moving average of C$5.52 and a 200 day moving average of C$5.72. The company has a market capitalization 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. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48.

Surge Energy Announces Dividend

The company 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 $0.0433 dividend. 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 dividend payout ratio (DPR) 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.