Surge Energy (TSE:SGY) Shares Cross Above 50-Day Moving Average - What's Next?

Surge Energy Inc. (TSE:SGY - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$5.60 and traded as high as C$6.30. Surge Energy shares last traded at C$6.26, with a volume of 848,501 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut their target price on shares of Surge Energy from C$11.00 to C$9.00 in a report on Friday, December 13th.

Surge Energy Trading Down 2.2 %

The company has a 50-day moving average of C$5.61 and a 200 day moving average of C$5.78. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40. The company has a market cap of C$617.46 million, a PE ratio of -7.70, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be given a $0.0433 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 8.46%. Surge Energy's dividend payout ratio 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.