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

Surge Energy Inc. (TSE:SGY) shares 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 traded hands during trading, an increase of 37% from the average session volume of 630,749 shares. The stock had previously closed at C$5.07.

Wall Street Analyst Weigh In

Several brokerages have commented on SGY. BMO Capital Markets cut their price target on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th. Raymond James downgraded Surge Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$8.50 to C$6.00 in a report on Wednesday.

Surge Energy Price Performance

The firm’s fifty day moving average is C$5.50 and its two-hundred day moving average is C$5.72. The company has a market cap of C$460.58 million, a P/E ratio of -5.74, 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.

Surge Energy Dividend Announcement

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