Surge Energy (TSE:SGY) Shares Down 11.2% - Time to Sell?

Surge Energy Inc. (TSE:SGY - Get Free Report) shares traded down 11.2% during mid-day 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 cut Surge Energy from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from C$8.50 to C$6.00 in a research note on Wednesday, April 9th.

Surge Energy Price Performance

The stock has a market cap of C$482.70 million, a price-to-earnings ratio of -6.02, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a 50 day simple moving average of C$5.48 and a 200-day simple moving average of C$5.69. 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 Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be given a $0.0433 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 10.83%. The ex-dividend date of this dividend is Wednesday, April 30th. 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.