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

Surge Energy Inc. (TSE:SGY) was down 11.2% on Thursday . The stock traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares changed 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SGY shares. Raymond James cut shares of Surge Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$8.50 to C$6.00 in a research note 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 note on Friday, December 13th.

Surge Energy Trading Up 1.8 %

The company has a market cap of C$460.58 million, a price-to-earnings ratio of -5.74, a P/E/G ratio of 0.59 and a beta of 2.54. The business has a fifty day simple moving average of C$5.50 and a 200 day simple moving average of C$5.72. 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 business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date is Monday, March 31st. Surge Energy’s dividend payout ratio is currently -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.