Short Interest in Surge Energy Inc. (OTCMKTS:ZPTAF) Increases By 17.5%

Surge Energy Inc. (OTCMKTS:ZPTAF) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,186,600 shares, an increase of 17.5% from the January 15th total of 2,711,400 shares. Based on an average daily volume of 177,100 shares, the short-interest ratio is presently 18.0 days.

Analysts Set New Price Targets

Separately, Raymond James initiated coverage on Surge Energy in a report on Friday, October 18th. They set an “outperform” rating and a $9.00 price target on the stock.

Surge Energy Stock Performance

Shares of Surge Energy stock opened at $3.85 on Friday. The company’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $4.28. Surge Energy has a 1 year low of $3.45 and a 1 year high of $6.01.

Surge Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.0302 dividend. The ex-dividend date is Friday, January 31st. This represents a dividend yield of 8.65%. 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.