Surge Energy (TSE:SGY) Trading Down 4.7% - Here's What Happened

Surge Energy Inc. (TSE:SGY - Get Free Report)'s share price fell 4.7% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.43. 609,937 shares traded hands during trading, a decline of 1% from the average session volume of 615,568 shares. The stock had previously closed at C$4.65.

Analyst Upgrades and Downgrades

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

Surge Energy Stock Performance

The firm has a market cap of C$480.69 million, a price-to-earnings ratio of -5.99, a PEG ratio of 0.59 and a beta of 2.54. 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 company has a 50 day moving average of C$5.49 and a 200 day moving average of C$5.70.

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 10.87%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy's payout ratio is currently -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.