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

Surge Energy Inc. (TSE:SGY) shares fell 11.2% during trading on Friday . The company traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares were traded during mid-day 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

Separately, Raymond James lowered Surge Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$8.50 to C$6.00 in a research report on Wednesday.

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 company has a market cap of C$460.58 million, a PE ratio of -5.74, a P/E/G ratio of 0.59 and a beta of 2.54. The firm has a 50 day moving average of C$5.50 and a two-hundred day moving average of C$5.72.

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 paid a $0.0433 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 11.34%. Surge Energy’s dividend payout ratio is presently -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.