Surge Energy Inc. (OTCMKTS:ZPTAF) Short Interest Update

Surge Energy Inc. (OTCMKTS:ZPTAF) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 846,500 shares, an increase of 21.4% from the May 31st total of 697,100 shares. Based on an average daily volume of 67,500 shares, the days-to-cover ratio is presently 12.5 days.

Surge Energy Price Performance

ZPTAF opened at $5.16 on Friday. The stock’s 50-day moving average price is $5.19 and its 200 day moving average price is $5.12. Surge Energy has a 12-month low of $4.36 and a 12-month high of $7.16.

Surge Energy Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.0291 per share. This represents a yield of 6.93%. The ex-dividend date is Friday, June 28th. Surge Energy’s payout ratio is 104.97%.

About Surge Energy

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.