Topaz Energy (TSE:TPZ) Hits New 12-Month Low – Should You Sell?

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week low during mid-day trading on Friday . The company 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 Ratings Changes

A number of research firms have weighed in on TPZ. CIBC increased their target price on Topaz Energy from C$31.00 to C$32.00 in a research note on Friday, January 17th. Desjardins decreased their price objective on shares of 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. Scotiabank boosted their price objective on shares of Topaz Energy from C$35.00 to C$36.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group raised their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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 simple moving average is C$24.59 and its 200 day simple moving average is C$26.25. The company has a market cap of C$3.39 billion, a PE ratio of 51.99 and a beta of 0.50. The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89.

Topaz Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend was Friday, March 14th. Topaz Energy’s payout ratio is presently 309.94%.

Insider Buying and Selling

In other Topaz Energy news, Director Stephen Phillip Larke sold 100,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were 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 business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of C$23.68 per share, for a total transaction of C$49,964.80. Insiders own 35.66% of the company’s stock.

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.