Topaz Energy (TSE:TPZ) Hits New 52-Week Low – Time to Sell?

Shares of Topaz Energy Corp. (TSE:TPZ) reached a new 52-week low during 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 changing hands. The stock had previously closed at C$23.74.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TPZ. Scotiabank raised their price objective on shares of Topaz Energy from C$35.00 to C$36.00 in a research report on Friday, January 17th. CIBC raised their price target on Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th. Desjardins dropped their price target on Topaz Energy from C$32.00 to C$29.50 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group increased their price objective on Topaz Energy from C$30.00 to C$31.00 in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Topaz Energy has an average rating of “Moderate Buy” and an average target price of C$31.42.

Topaz Energy Stock Performance

The stock’s 50-day moving average price is C$24.59 and its 200-day moving average price is C$26.25. The company has a market capitalization of C$3.39 billion, a price-to-earnings 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 Announces Dividend

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

Insider Buying and Selling

In related news, Senior Officer Cheree Stephenson acquired 2,110 shares of the firm’s stock in a transaction that occurred 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. Also, Director Stephen Phillip Larke sold 100,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. Insiders own 35.66% of the company’s stock.

Topaz Energy Company Profile

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.