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

Shares of Surge Energy Inc. (TSE:SGY) were down 11.2% on Thursday . The company traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 630,749 shares. The stock had previously closed at C$5.07.

Analyst Upgrades and Downgrades

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

Surge Energy Trading Down 11.2 %

The firm has a market capitalization of C$452.53 million, a P/E ratio of -5.64, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The stock has a 50-day simple moving average of C$5.52 and a two-hundred day simple moving average of C$5.72. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be issued a $0.0433 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 11.55%. Surge Energy’s 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.