Surge Energy (TSE:SGY) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Surge Energy Inc. (TSE:SGY)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$5.60 and traded as high as C$6.30. Surge Energy shares last traded at C$6.26, with a volume of 848,501 shares.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered their target price on Surge Energy from C$11.00 to C$9.00 in a research note on Friday, December 13th.

Surge Energy Stock Performance

The company has a market capitalization of C$631.54 million, a price-to-earnings ratio of -7.88, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The stock has a 50-day simple moving average of C$5.61 and a 200-day simple moving average of C$5.78. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

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. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 8.27%. Surge Energy’s 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.