Surge Energy (OTCMKTS:ZPTAF) Trading 1.4% Higher – Here’s Why

Surge Energy Inc. (OTCMKTS:ZPTAF)’s stock price traded up 1.4% on Thursday . The stock traded as high as $6.00 and last traded at $5.74. 51,887 shares were traded during trading, a decline of 9% from the average session volume of 56,839 shares. The stock had previously closed at $5.66.

Wall Street Analyst Weigh In

Separately, Raymond James Financial cut shares of 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.com, the company has a consensus rating of “Moderate Buy”.

Surge Energy Trading Up 1.4%

The stock has a fifty day moving average of $5.15 and a 200 day moving average of $5.09.

Surge Energy Cuts Dividend

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