Insider Buying: Topaz Energy Corp. (TSE:TPZ) Director Acquires 10,000 Shares of Stock

Topaz Energy Corp. (TSE:TPZGet Rating) Director Mike Rose acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of C$23.31 per share, for a total transaction of C$233,128.00. Following the purchase, the director now directly owns 433,470 shares in the company, valued at approximately C$10,105,399.42.

Shares of TPZ stock traded down C$1.12 during trading hours on Monday, reaching C$22.60. 143,408 shares of the stock were exchanged, compared to its average volume of 293,234. The firm has a market capitalization of C$3.15 billion and a price-to-earnings ratio of 103.64. The company has a current ratio of 10.53, a quick ratio of 10.18 and a debt-to-equity ratio of 20.90. Topaz Energy Corp. has a 12-month low of C$14.35 and a 12-month high of C$24.00. The company’s 50-day moving average price is C$21.39 and its 200-day moving average price is C$19.13.

Topaz Energy (TSE:TPZGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported C$0.12 EPS for the quarter, meeting the consensus estimate of C$0.12. The business had revenue of C$75.68 million during the quarter, compared to the consensus estimate of C$76.00 million. On average, sell-side analysts expect that Topaz Energy Corp. will post 0.6000001 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 31st were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 18.41%. The ex-dividend date of this dividend was Monday, March 14th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.24. Topaz Energy’s payout ratio is 413.64%.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Topaz Energy from C$27.25 to C$31.50 in a research report on Wednesday, May 4th. TD Securities boosted their price objective on shares of Topaz Energy from C$26.00 to C$27.00 and gave the stock a “buy” rating in a research note on Wednesday, May 4th. BMO Capital Markets boosted their target price on shares of Topaz Energy from C$27.00 to C$30.00 in a report on Wednesday, May 4th. National Bankshares dropped their price objective on shares of Topaz Energy from C$27.50 to C$25.00 in a report on Thursday, April 14th. Finally, Scotiabank lifted their price target on Topaz Energy from C$30.00 to C$31.00 in a research note on Thursday, April 7th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to, Topaz Energy currently has an average rating of “Buy” and a consensus target price of C$26.54.

Topaz Energy Company Profile (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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