Surge Energy Inc. (OTCMKTS:ZPTAF – Get Rating) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 121,500 shares, a decrease of 51.7% from the August 31st total of 251,500 shares. Based on an average daily volume of 181,500 shares, the days-to-cover ratio is currently 0.7 days.
Surge Energy Price Performance
Shares of OTCMKTS ZPTAF opened at $5.32 on Wednesday. Surge Energy has a 52-week low of $2.90 and a 52-week high of $10.93. The business has a 50-day moving average price of $7.18 and a 200 day moving average price of $7.50.
Get Surge Energy alerts:Surge Energy Cuts Dividend
The company also recently announced a dividend, which will be paid on Monday, October 17th. Investors of record on Thursday, September 29th will be given a $0.0263 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a dividend yield of 4.63%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their price target on Surge Energy from C$12.75 to C$13.25 in a report on Thursday, June 30th. National Bank Financial dropped their price objective on Surge Energy from C$16.50 to C$15.50 in a report on Monday, July 18th. Finally, Canaccord Genuity Group started coverage on Surge Energy in a report on Thursday, August 25th. They issued a "buy" rating and a C$15.50 price objective on the stock.Surge Energy Company Profile
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Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.
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