CIBC Raises Topaz Energy (TSE:TPZ) Price Target to C$26.00

Topaz Energy (TSE:TPZGet Rating) had its target price upped by CIBC from C$23.00 to C$26.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other equities analysts have also commented on the stock. Scotiabank upped their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a research report on Thursday, April 7th. BMO Capital Markets lifted their price target on shares of Topaz Energy from C$23.00 to C$27.00 in a research note on Wednesday, March 2nd. Cormark boosted their target price on Topaz Energy from C$24.00 to C$26.00 in a research report on Thursday, March 3rd. Raymond James set a C$27.00 price target on Topaz Energy and gave the company a strong-buy rating in a research note on Tuesday. Finally, National Bankshares dropped their target price on Topaz Energy from C$27.50 to C$25.00 in a research report on Thursday. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Topaz Energy currently has an average rating of Buy and a consensus target price of C$24.85.

TPZ stock opened at C$22.70 on Thursday. The stock has a market cap of C$3.16 billion and a P/E ratio of 103.18. Topaz Energy has a fifty-two week low of C$14.28 and a fifty-two week high of C$22.81. The company has a debt-to-equity ratio of 20.90, a current ratio of 10.53 and a quick ratio of 10.18. The stock’s 50 day moving average price is C$20.15.

Topaz Energy (TSE:TPZGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported C$0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.12. The business had revenue of C$75.68 million for the quarter, compared to analysts’ expectations of C$76.00 million. Research analysts forecast that Topaz Energy will post 0.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 31st were given a $1.04 dividend. This is an increase from Topaz Energy’s previous quarterly dividend of $0.24. This represents a $4.16 annualized dividend and a dividend yield of 18.33%. The ex-dividend date of this dividend was Monday, March 14th. Topaz Energy’s dividend payout ratio (DPR) is currently 386.36%.

In other news, Director Andrew B. Macdonald purchased 5,000 shares of the firm’s stock in a transaction dated Monday, January 24th. The stock was bought at an average price of C$17.00 per share, with a total value of C$85,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at C$340,000.

About Topaz Energy (Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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