Topaz Energy Corp. (TSE:TPZ) Director Mike Rose Buys 10,000 Shares

Key Points

• Mike Rose, Director of Topaz Energy Corp., acquired 10,000 shares of the company’s stock at an average price of C$25.37, amounting to a total investment of C$253,729.
• Topaz Energy declared a quarterly dividend of $0.34 per share, increasing from the previous $0.33, resulting in an overall annualized dividend of $1.36 and a yield of 5.4%.
• Analysts have upgraded their price targets for Topaz Energy, with Jefferies raising their target from C$28.00 to C$31.00, indicating a consensus rating of "Moderate Buy" with a target price of C$31.80.

Topaz Energy Corp. (TSE:TPZ - Get Free Report) Director Mike Rose bought 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was bought at an average cost of C$25.37 per share, for a total transaction of C$253,729.00.

Topaz Energy Trading Up 0.6%

Shares of Topaz Energy stock traded up C$0.15 during trading on Thursday, reaching C$25.46. 101,328 shares of the company were exchanged, compared to its average volume of 342,749. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. The firm has a market capitalization of C$3.90 billion, a price-to-earnings ratio of 59.78 and a beta of 0.50. The business has a 50-day moving average price of C$25.70 and a 200-day moving average price of C$24.84. Topaz Energy Corp. has a twelve month low of C$21.00 and a twelve month high of C$29.51.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a dividend of $0.34 per share. This is an increase from Topaz Energy's previous quarterly dividend of $0.33. The ex-dividend date was Friday, June 13th. This represents a $1.36 annualized dividend and a yield of 5.3%. Topaz Energy's dividend payout ratio is 309.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. CIBC reduced their target price on shares of Topaz Energy from C$32.00 to C$30.00 in a report on Thursday, April 10th. Jefferies Financial Group boosted their price target on Topaz Energy from C$28.00 to C$31.00 in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$31.80.

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.