Surge Energy Inc. (TSE:SGY - Get Free Report) shares were down 11.2% during mid-day trading on Friday . The company traded as low as C$4.44 and last traded at C$4.50. Approximately 865,525 shares traded hands during trading, an increase of 37% from the average daily volume of 630,749 shares. The stock had previously closed at C$5.07.
Wall Street Analyst Weigh In
Separately, Raymond James downgraded shares of 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.
View Our Latest Analysis on Surge Energy
Surge Energy Stock Up 1.9 %
The stock has a 50-day simple moving average of C$5.48 and a two-hundred day simple moving average of C$5.69. 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 cap of C$491.75 million, a PE ratio of -6.13, a P/E/G ratio of 0.59 and a beta of 2.54.
Surge Energy Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be paid a $0.0433 dividend. This represents a $0.52 annualized dividend and a yield of 10.63%. The ex-dividend date is Wednesday, April 30th. Surge Energy's dividend payout ratio is currently -65.21%.
About Surge Energy
(
Get Free Report)
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.
Further Reading
Before you consider Surge Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Surge Energy wasn't on the list.
While Surge Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
