Topaz Energy (TSE:TPZ) Sets New 12-Month Low - Here's Why

Shares of Topaz Energy Corp. (TSE:TPZ - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$21.67 and last traded at C$21.69, with a volume of 374228 shares. The stock had previously closed at C$23.74.

Analyst Upgrades and Downgrades

TPZ has been the topic of several recent research reports. Desjardins lowered their target price on shares of Topaz Energy from C$32.00 to C$29.50 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. CIBC upped their price objective on shares of Topaz Energy from C$31.00 to C$32.00 in a research note on Friday, January 17th. Scotiabank raised their target price on shares of Topaz Energy from C$35.00 to C$36.00 in a research note on Friday, January 17th. Finally, Jefferies Financial Group increased their price target on Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$31.42.

Topaz Energy Price Performance

The company's 50 day moving average is C$24.25 and its 200 day moving average is C$26.15. The stock has a market cap of C$3.54 billion, a price-to-earnings ratio of 54.31 and a beta of 0.50. The company has a debt-to-equity ratio of 36.45, a current ratio of 1.89 and a quick ratio of 7.17.

Topaz Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.33 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.71%. Topaz Energy's dividend payout ratio (DPR) is 309.94%.

Insider Buying and Selling at Topaz Energy

In other Topaz Energy news, Director Stephen Phillip Larke sold 100,000 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. Also, Senior Officer Cheree Stephenson acquired 2,110 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of C$23.68 per share, with a total value of C$49,964.80. 35.66% of the stock is owned by insiders.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.