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

Surge Energy Inc. (TSE:SGY - Get Free Report)'s share price dropped 11.2% during trading on Friday . The stock traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 630,749 shares. The stock had previously closed at C$5.07.

Analyst Upgrades and Downgrades

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

Surge Energy Trading Up 0.6 %

The business's 50-day simple moving average is C$5.49 and its 200-day simple moving average is C$5.70. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The company has a market cap of C$483.71 million, a PE ratio of -6.03, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.0433 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 10.80%. Surge Energy's dividend payout ratio (DPR) 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.