Topaz Energy (TSE:TPZ) Price Target Lowered to C$28.00 at Raymond James

Topaz Energy (TSE:TPZGet Rating) had its target price cut by Raymond James from C$30.00 to C$28.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have a strong-buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Stifel Firstegy reiterated a buy rating on shares of Topaz Energy in a research note on Thursday, January 12th. BMO Capital Markets lifted their target price on shares of Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada lifted their target price on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an outperform rating in a research note on Wednesday, November 2nd. ATB Capital lifted their target price on shares of Topaz Energy from C$30.00 to C$32.00 and gave the company a strong-buy rating in a research note on Tuesday, November 15th. Finally, Scotiabank lifted their target price on shares of Topaz Energy from C$32.00 to C$33.00 in a research note on Monday, September 19th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of C$29.75.

Topaz Energy Trading Up 1.2 %

Shares of Topaz Energy stock opened at C$21.82 on Monday. The firm has a market capitalization of C$3.15 billion and a PE ratio of 31.62. The company has a debt-to-equity ratio of 34.84, a current ratio of 8.06 and a quick ratio of 7.17. The company’s fifty day moving average price is C$22.06 and its two-hundred day moving average price is C$21.43. Topaz Energy has a 52-week low of C$16.90 and a 52-week high of C$24.80.

Topaz Energy (TSE:TPZGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$81.68 million during the quarter. On average, analysts expect that Topaz Energy will post 0.86 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 30th were issued a $0.30 dividend. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 5.50%. Topaz Energy’s payout ratio is 150.72%.

Insider Activity

In other news, Senior Officer Cheree Stephenson sold 2,000 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of C$23.81, for a total value of C$47,620.00. Following the completion of the transaction, the insider now owns 25,000 shares of the company’s stock, valued at approximately C$595,250. In related news, Senior Officer Cheree Stephenson sold 2,000 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of C$23.81, for a total value of C$47,620.00. Following the completion of the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately C$595,250. Also, Director Mike Rose bought 10,000 shares of Topaz Energy stock in a transaction that occurred on Wednesday, December 28th. The stock was bought at an average cost of C$21.00 per share, with a total value of C$209,984.00. Following the completion of the purchase, the director now owns 443,470 shares in the company, valued at approximately C$9,312,160.45. Insiders sold 7,622 shares of company stock valued at $177,739 in the last quarter.

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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