Surge Energy (OTCMKTS:ZPTAF) Shares Down 1.1% – Here’s Why

Surge Energy Inc. (OTCMKTS:ZPTAF)’s stock price traded down 1.1% on Monday . The company traded as low as $3.99 and last traded at $4.02. 58,818 shares traded hands during trading, an increase of 34% from the average session volume of 44,033 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

Separately, Raymond James started coverage on Surge Energy in a research note on Friday, October 18th. They issued an “outperform” rating and a $9.00 price objective on the stock.

Surge Energy Price Performance

The stock has a 50-day simple moving average of $4.41 and a 200-day simple moving average of $4.83.

Surge Energy Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.0314 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a dividend yield of 8.7%. Surge Energy’s dividend payout ratio (DPR) is 104.97%.

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.