Surge Energy (OTCMKTS:ZPTAF) Trading Up 1.7% – Here’s What Happened

Surge Energy Inc. (OTCMKTS:ZPTAF) shares traded up 1.7% on Monday . The company traded as high as $3.75 and last traded at $3.74. 23,708 shares traded hands during trading, a decline of 48% from the average session volume of 45,201 shares. The stock had previously closed at $3.68.

Analyst Upgrades and Downgrades

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

Surge Energy Trading Down 3.7 %

The firm has a 50-day simple moving average of $4.13 and a 200 day simple moving average of $4.60.

Surge Energy Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.0309 per share. The ex-dividend date was Friday, November 29th. This represents a yield of 8.79%. Surge Energy’s dividend payout ratio (DPR) is currently 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.