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

Surge Energy Inc. (TSE:SGY)’s share price fell 11.2% during mid-day trading on Thursday . The company traded as low as C$4.44 and last traded at C$4.50. 797,293 shares changed hands during trading, an increase of 27% from the average session volume of 627,678 shares. The stock had previously closed at C$5.07.

Wall Street Analysts Forecast Growth

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

Surge Energy Trading Down 11.2 %

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 stock has a market capitalization of C$452.53 million, a price-to-earnings ratio of -5.64, a PEG ratio of 0.59 and a beta of 2.54. The company’s 50 day moving average is C$5.54 and its 200 day moving average is C$5.73.

Surge Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid 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 yield of 11.55%. 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.