Surge Energy (OTCMKTS:ZPTAF) Trading Down 1.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Surge Energy Trading Down 1.1 %

The business’s fifty day moving average is $4.41 and its 200 day moving average is $4.83.

Surge Energy Cuts Dividend

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