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 that occurred on Tuesday, August 5th. The stock was purchased at an average price of C$25.37 per share, for a total transaction of C$253,729.00.

Topaz Energy Stock Down 1.2%

TPZ traded down C$0.31 during midday trading on Friday, hitting C$25.16. The company had a trading volume of 203,081 shares, compared to its average volume of 342,409. Topaz Energy Corp. has a 52 week low of C$21.00 and a 52 week high of C$29.51. 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 company has a market capitalization of C$3.85 billion, a price-to-earnings ratio of 59.08 and a beta of 0.50. The stock's 50 day moving average price is C$25.70 and its 200 day moving average price is C$24.80.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 5.4%. This is an increase from Topaz Energy's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, June 13th. Topaz Energy's payout ratio is presently 309.94%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their target price on shares of Topaz Energy from C$28.00 to C$31.00 in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.