Surge Energy (TSE:SGY) Shares Down 3.2% - Time to Sell?

Surge Energy Inc. (TSE:SGY - Get Free Report)'s stock price traded down 3.2% during mid-day trading on Wednesday . The company traded as low as C$4.39 and last traded at C$4.50. 384,735 shares changed hands during trading, a decline of 37% from the average session volume of 610,728 shares. The stock had previously closed at C$4.65.

Analysts Set New Price Targets

Separately, Raymond James downgraded Surge Energy from an "outperform" rating to a "market perform" rating and cut their price objective for the company from C$8.50 to C$6.00 in a research report on Wednesday, April 9th.

Surge Energy Trading Up 4.4 %

The business has a 50-day moving average of C$5.50 and a two-hundred day moving average of C$5.71. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The firm has a market capitalization of C$480.69 million, a price-to-earnings ratio of -5.99, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 10.87%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy's dividend payout ratio is -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.