Surge Energy Inc. (TSE:SGY - Get Free Report) fell 11.2% on Friday . The stock 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
Separately, Raymond James downgraded Surge Energy from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from C$8.50 to C$6.00 in a research report on Wednesday, April 9th.
View Our Latest Stock Analysis on SGY
Surge Energy Stock Up 3.8 %
The company has a market capitalization of C$500.80 million, a PE ratio of -6.25, a P/E/G ratio of 0.59 and a beta of 2.54. 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 business has a 50-day moving average of C$5.48 and a 200 day moving average of C$5.69.
Surge Energy Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be issued a $0.0433 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.52 dividend on an annualized basis and a yield of 10.43%. Surge Energy's dividend payout ratio is presently -65.21%.
Surge Energy Company Profile
(
Get Free Report)
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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