Raymond James initiated coverage on shares of Surge Energy (OTCMKTS:ZPTAF – Free Report) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage issued an outperform rating and a $9.00 price objective on the stock.
Surge Energy Price Performance
OTCMKTS ZPTAF opened at $4.39 on Friday. Surge Energy has a 52-week low of $4.07 and a 52-week high of $7.10. The firm has a 50-day moving average price of $4.64 and a 200 day moving average price of $5.01.
Surge Energy Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.0314 dividend. This represents a yield of 8.7%. The ex-dividend date of this dividend is Thursday, October 31st. 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.
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