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

Shares of Surge Energy Inc. (TSE:SGY) fell 11.2% on Friday . 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SGY. Raymond James cut Surge Energy from an “outperform” rating to a “market perform” rating and decreased 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 price target on shares of Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th.

Surge Energy Price Performance

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 stock has a market capitalization of C$452.53 million, a PE ratio of -5.64, a PEG ratio of 0.59 and a beta of 2.54. The business has a fifty day moving average price of C$5.52 and a 200-day moving average price of C$5.72.

Surge Energy Dividend Announcement

The firm 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 11.55%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy’s 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.