Raymond James assumed coverage on shares of Surge Energy (OTCMKTS:ZPTAF – Free Report) in a research note issued to investors on Friday, Benzinga reports. The firm issued an outperform rating and a $9.00 target price on the stock.
Surge Energy Price Performance
Shares of Surge Energy stock opened at $4.39 on Friday. The business has a 50-day simple moving average of $4.64 and a 200-day simple moving average of $5.01. Surge Energy has a one year low of $4.07 and a one year high of $7.10.
Surge Energy Cuts Dividend
The firm also recently declared a dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.0314 dividend. This represents a yield of 8.7%. The ex-dividend date is Thursday, October 31st. Surge Energy’s dividend payout ratio (DPR) 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.
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