Surge Energy (TSE:SGY) Trading Down 11.2% – Should You Sell?

Surge Energy Inc. (TSE:SGY) traded down 11.2% during mid-day trading 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.

Analysts Set New Price Targets

SGY has been the topic of a number of recent analyst reports. Raymond James downgraded Surge Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$8.50 to C$6.00 in a report on Wednesday. BMO Capital Markets cut their price objective on shares of Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th.

Surge Energy Stock Down 11.2 %

The stock has a market cap of C$452.53 million, a PE ratio of -5.64, a P/E/G ratio of 0.59 and a beta of 2.54. The business has a 50 day moving average of C$5.52 and a 200-day 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 Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date is Monday, March 31st. 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.