Surge Energy (OTCMKTS:ZPTAF) Shares Up 3.9% – Should You Buy?

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

Wall Street Analyst Weigh In

Separately, Raymond James Financial lowered 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Surge Energy Trading Up 3.9%

The company’s 50 day moving average price is $5.06 and its 200 day moving average price is $5.05.

Surge Energy Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.0309 dividend. This represents a yield of 717.0%. The ex-dividend date was Friday, November 28th. 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.