Surge Energy (TSE:SGY) Trading Down 4.7% – Time to Sell?

Surge Energy Inc. (TSE:SGY) dropped 4.7% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.43. Approximately 211,730 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 607,132 shares. The stock had previously closed at C$4.65.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets decreased their target price on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th.

Surge Energy Stock Performance

The company has a market capitalization of C$447.51 million, a P/E ratio of -5.58, a P/E/G 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$5.55 and its 200-day simple moving average is C$5.75.

Surge Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.68%. 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.