Surge Energy (OTCMKTS:ZPTAF) Trading Up 1.4% – What’s Next?

Surge Energy Inc. (OTCMKTS:ZPTAF)’s stock price rose 1.4% during trading on Thursday . The stock traded as high as $6.00 and last traded at $5.74. Approximately 51,887 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 56,839 shares. The stock had previously closed at $5.66.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial downgraded Surge Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Surge Energy Stock Down 0.1%

The stock’s 50 day simple moving average is $5.16 and its 200 day simple moving average is $5.09.

Surge Energy Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.0309 per share. The ex-dividend date was Friday, November 28th. This represents a dividend yield of 717.0%. Surge Energy’s dividend payout ratio is 104.97%.

Surge Energy Company Profile

Surge Energy Inc is a Calgary-based oil and natural gas exploration and production company trading on the OTC Markets under the ticker ZPTAF. The company focuses on the development of light crude oil, natural gas liquids and natural gas assets across western Canada. Surge’s operations emphasize efficient capital deployment and cost control to optimize production from its resource plays.

Surge Energy holds acreage in key western Canadian resource basins, including the Montney and Duvernay formations in Alberta, the Viking play in Saskatchewan and the Mannville group in Alberta.