Surge Energy (TSE:SGY) Shares Down 11.4% – What’s Next?

Surge Energy Inc. (TSE:SGY) dropped 11.4% during trading on Thursday . The company traded as low as C$4.46 and last traded at C$4.49. Approximately 622,515 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 626,758 shares. The stock had previously closed at C$5.07.

Analyst Ratings Changes

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

Surge Energy Stock Performance

The firm’s fifty day simple moving average is C$5.50 and its 200 day simple moving average is C$5.72. The company has a market capitalization of C$460.58 million, a price-to-earnings ratio of -5.74, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy’s dividend payout ratio is -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.