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

Surge Energy Inc. (TSE:SGY)’s share price traded down 11.2% on Thursday . The company traded as low as C$4.44 and last traded at C$4.50. 865,525 shares were traded 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 Analysts Forecast Growth

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

Surge Energy Price Performance

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 current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The company’s 50 day simple moving average is C$5.50 and its 200-day simple moving average is C$5.72.

Surge Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.0433 per share. 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 (DPR) is presently -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.