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

Surge Energy Inc. (TSE:SGY - Get Free Report) shares were down 4.7% during trading on Wednesday . The company traded as low as C$4.39 and last traded at C$4.43. Approximately 211,730 shares were traded during trading, a decline of 65% from the average daily volume of 607,132 shares. The stock had previously closed at C$4.65.

Analyst Ratings Changes

Separately, Raymond James downgraded shares of Surge Energy from an "outperform" rating to a "market perform" rating and cut 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$474.66 million, a PE ratio of -5.92, a P/E/G ratio of 0.59 and a beta of 2.54. The stock has a 50-day moving average price of C$5.50 and a 200 day moving average price of C$5.71. The company has a debt-to-equity ratio of 31.48, a current ratio of 0.66 and a quick ratio of 0.40.

Surge Energy Announces Dividend

The business also recently disclosed 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 11.01%. The ex-dividend date of this dividend is Monday, March 31st. Surge Energy's dividend 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.