Surge Energy (OTCMKTS:ZPTAF) Stock Price Down 1.1% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Surge Energy Stock Performance

The stock has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.84.

Surge Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.0314 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a dividend yield of 8.7%. Surge Energy’s payout ratio is currently 104.97%.

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.