Surge Energy (OTCMKTS:ZPTAF) Trading Up 3.9% – Here’s What Happened

Surge Energy Inc. (OTCMKTS:ZPTAF) rose 3.9% during trading on Thursday . The stock traded as high as $5.7320 and last traded at $5.67. Approximately 72,702 shares changed hands during trading, an increase of 63% from the average daily volume of 44,526 shares. The stock had previously closed at $5.4580.

Analysts Set New Price Targets

Separately, Raymond James Financial cut Surge Energy from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Surge Energy presently has an average rating of “Moderate Buy”.

Surge Energy Price Performance

The stock has a 50-day moving average price of $5.07 and a 200 day moving average price of $5.05.

Surge Energy Cuts Dividend

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