Surge Energy (TSE:SGY) Stock Price Down 11.2% – Time to Sell?

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

Analysts Set New Price Targets

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

Surge Energy Trading Down 11.2 %

The company has a market cap of C$452.53 million, a P/E ratio of -5.64, a PEG 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. The firm’s 50 day moving average is C$5.54 and its two-hundred day moving average is C$5.73.

Surge Energy Announces Dividend

The business 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 dividend of $0.0433 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 11.55%. Surge Energy’s 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.