Surge Energy (TSE:SGY) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Shares of Surge Energy Inc. (TSE:SGY) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 trading hands.

Wall Street Analyst Weigh In

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

Surge Energy Price Performance

The company has a 50 day moving average of C$5.61 and a 200 day moving average of C$5.78. The stock 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 company has a quick ratio of 0.40, a current ratio of 0.66 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. Shareholders 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 yield of 8.27%. The ex-dividend date is Monday, March 31st. Surge Energy’s dividend payout ratio is currently -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.