Stephen Phillip Larke Sells 200,000 Shares of Topaz Energy Corp. (TSE:TPZ) Stock

Topaz Energy Corp. (TSE:TPZ) Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00.

Topaz Energy Stock Down 0.3 %

Shares of Topaz Energy stock opened at C$22.30 on Friday. The stock has a market capitalization of C$3.23 billion, a P/E ratio of 67.58 and a beta of 0.48. The company has a quick ratio of 7.17, a current ratio of 8.52 and a debt-to-equity ratio of 31.49. The stock has a 50 day moving average price of C$20.24 and a two-hundred day moving average price of C$20.36. Topaz Energy Corp. has a 12-month low of C$18.03 and a 12-month high of C$22.55.

Topaz Energy (TSE:TPZ) last announced its earnings results on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. The firm had revenue of C$82.78 million during the quarter, compared to analysts’ expectations of C$79.00 million. Equities analysts expect that Topaz Energy Corp. will post 0.2308671 earnings per share for the current year.

Topaz Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.74%. Topaz Energy’s payout ratio is 387.88%.

Analyst Ratings Changes

TPZ has been the topic of several research analyst reports. Scotiabank lowered their target price on Topaz Energy from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Jefferies Financial Group set a C$23.00 target price on Topaz Energy and gave the company a “buy” rating in a research note on Tuesday, February 27th. CIBC lowered their price target on Topaz Energy from C$26.50 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Raymond James lowered their price target on Topaz Energy from C$27.00 to C$25.00 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Finally, Desjardins lowered their price target on Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$26.63.

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.