Surge Energy (OTCMKTS:ZPTAF) Trading Up 1.8% – Should You Buy?

Surge Energy Inc. (OTCMKTS:ZPTAF) shares traded up 1.8% during trading on Thursday . The company traded as high as $4.7620 and last traded at $4.7460. 32,656 shares traded hands during trading, a decline of 44% from the average session volume of 58,371 shares. The stock had previously closed at $4.66.

Analyst Upgrades and Downgrades

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

Surge Energy Trading Up 1.8%

The stock has a fifty day moving average price of $5.04 and a 200-day moving average price of $5.00.

Surge Energy Cuts Dividend

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