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

Surge Energy Inc. (TSE:SGY) traded down 11.2% during trading on Friday . The stock 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

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

Surge Energy Stock Performance

The firm has a market capitalization of C$452.53 million, a PE ratio of -5.64, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66. The business’s fifty day simple moving average is C$5.52 and its 200-day simple moving average is C$5.72.

Surge Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 11.55%. Surge Energy’s dividend 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.