Surge Energy Inc. (TSE:SGY - Get Free Report) shares fell 11.2% during trading on Friday . The stock traded as low as C$4.44 and last traded at C$4.50. 865,525 shares traded hands 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 downgraded Surge Energy from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from C$8.50 to C$6.00 in a research report on Wednesday, April 9th.
Check Out Our Latest Analysis on Surge Energy
Surge Energy Trading Up 0.4 %
The stock has a fifty day moving average of C$5.49 and a 200-day moving average of C$5.70. The company has a market cap of C$482.70 million, a PE ratio of -6.02, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 31.48, a quick ratio of 0.40 and a current ratio of 0.66.
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 paid a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 10.83%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy's dividend payout ratio is currently -65.21%.
About Surge Energy
(
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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.
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