Surge Energy (OTCMKTS:ZPTAF) Trading Up 1.7% – Time to Buy?

Surge Energy Inc. (OTCMKTS:ZPTAF)’s share price rose 1.7% on Monday . The stock traded as high as $3.75 and last traded at $3.74. Approximately 23,708 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 45,201 shares. The stock had previously closed at $3.68.

Wall Street Analysts Forecast Growth

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

Surge Energy Trading Down 3.7 %

The firm has a fifty day moving average of $4.13 and a two-hundred day moving average of $4.60.

Surge Energy Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.0309 dividend. This represents a dividend yield of 8.79%. The ex-dividend date was Friday, November 29th. Surge Energy’s payout ratio 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.