Topaz Energy (TSE:TPZ) Sets New 12-Month Low on Analyst Downgrade

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday after CIBC lowered their price target on the stock from C$32.00 to C$30.00. The company traded as low as C$21.00 and last traded at C$23.13, with a volume of 806606 shares. The stock had previously closed at C$21.51.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price target on Topaz Energy from C$30.00 to C$31.00 in a research report on Monday, December 16th. Scotiabank boosted their target price on shares of Topaz Energy from C$35.00 to C$36.00 in a report on Friday, January 17th. Finally, Desjardins cut their price target on Topaz Energy from C$32.00 to C$29.50 and set a "buy" rating for the company in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$31.25.

Insiders Place Their Bets

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

Topaz Energy Price Performance

The company has a market cap of C$3.52 billion, a PE ratio of 54.01 and a beta of 0.50. The firm's 50-day moving average is C$24.08 and its 200-day moving average is C$26.09. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45.

Topaz Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.33 per share. The ex-dividend date was Friday, March 14th. This represents a $1.32 annualized dividend and a dividend yield of 5.74%. Topaz Energy's dividend payout ratio is presently 309.94%.

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.