Topaz Energy (TSE:TPZ) Stock Price Down 1.2% - Here's Why

Key Points

• Topaz Energy's stock fell by 1.2% to C$25.75, with trading volume down 44% compared to its average.
• Jefferies Financial Group increased their price target for Topaz Energy from C$28.00 to C$31.00, reflecting a positive outlook.
• The company announced a quarterly dividend of $0.34 per share, yielding 5.3%, despite a notably high dividend payout ratio of 324.39%.

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s stock price dropped 1.2% on Thursday . The company traded as low as C$25.74 and last traded at C$25.75. Approximately 187,936 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 335,909 shares. The stock had previously closed at C$26.05.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price target on Topaz Energy from C$28.00 to C$31.00 in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Topaz Energy has an average rating of "Moderate Buy" and an average target price of C$31.80.

Topaz Energy Stock Down 1.2%

The firm has a fifty day moving average price of C$25.45 and a 200 day moving average price of C$24.93. 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 cap of C$3.96 billion, a P/E ratio of 62.80 and a beta of 0.27.

Topaz Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, September 15th. Topaz Energy's dividend payout ratio is presently 324.39%.

Insider Activity at Topaz Energy

In other Topaz Energy news, Director Mike Rose bought 10,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of C$25.37 per share, for a total transaction of C$253,729.00. Insiders own 35.66% of the company's stock.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada's natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices.

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